Originally published on: November 29, 2024
Telegram messenger has been instrumental in boosting global crypto adoption by integrating cryptocurrency Mini Apps and supporting various crypto wallets for users to access digital assets conveniently within the platform.
Despite industry experts touting Telegram as the key to reaching the first billion crypto users, web browsers like Apple’s Safari maintain a cautious stance towards crypto features. Meanwhile, platforms like Brave and Opera thrive in the crypto-friendly space.
According to Jorgen Arnesen, Executive Vice President of Mobile at Opera, Google’s Chrome browser, with a dominant market share of 64.61% in October 2024, has not restricted crypto extensions or related tools on its platform.
The Open Network (TON) linked to Telegram experienced significant growth in 2024, introducing users to cryptocurrencies through popular Mini Apps like Notcoin and Hamster Kombat. Telegram also offers various types of crypto wallets within the app, catering to both self-custodial and custodial solutions for holding digital assets.
Luke Mulks, Vice President of Business Operations at Brave, sees the adoption of crypto on Telegram as a natural progression, highlighting the platform’s communication hub status in the crypto space. However, he does not view Telegram as a direct competitor to web browsers.
Similarly, Opera’s Arnesen believes that web-based crypto adoption will surpass Telegram’s strides in the long run, despite the success of projects like TON blockchain and Notcoin. Chrome’s ecosystem of crypto extensions and tools also provides users with seamless interactions with cryptocurrencies directly within the browser.
While Telegram remains a significant distribution channel for TON-based projects, TON Foundation ecosystem lead Alena Shmalko emphasizes the foundation’s efforts to expand TON’s reach beyond the messenger platform. Despite Telegram’s founder, Pavel Durov, facing legal issues in France over allegations of facilitating illicit transactions, the foundation continues to work towards broader engagement avenues.
As the crypto landscape evolves, the competition between Telegram and web browsers for crypto adoption intensifies, offering users a diverse range of options to explore digital assets and blockchain technology.