Telegram’s crypto rise poses no threat to adoption via web browsers

Telegram messenger has significantly boosted global crypto adoption by offering cryptocurrency-integrated Mini Apps and supporting various types of crypto wallets, allowing users to access digital assets directly within the platform.

While some industry observers said Telegram could be the key to reaching the first billion crypto users, the messenger is not seen as a competitor or a threat to conventional crypto entry points like web browsers.

Although browsers like Apple’s Safari have taken a cautious stance on adopting crypto features, the crypto ecosystem has thrived on crypto-friendly browsers like Brave and Opera.

Google, the operator of the world’s most popular browser, Chrome, also has not limited crypto extensions and other related tools on its browser, Jorgen Arnesen, executive vice president of Mobile at Opera, told Cointelegraph.

Brave doesn’t see Telegram as a competitor

Telegram-linked blockchain platform, The Open Network (TON), posted massive growth in 2024, with many users being introduced to crypto through Mini Apps like Notcoin and Hamster Kombat.

Telegram also supports various types of crypto wallets, allowing users to choose between self-custodial and custodial wallet solutions for holding cryptocurrencies like Bitcoin (BTC) directly on the messenger.

“As a major hub for crypto communication, we see the adoption of crypto on Telegram as a natural fit,” Brave’s vice president of business operations, Luke Mulks, told Cointelegraph.

Telegram’s crypto rise shows the demand for crypto and extra opportunities for use cases among more mainstream users, but he said this doesn’t pose a threat or competition to browsers.

Many of Telegram’s crypto features, such as an integrated wallet and opportunities for users to earn, have been available in Brave for several years, Mulks noted, adding:

“We don’t see browsers as being left behind. The browser is the gateway to the web, including Web3. Our focus has been from a higher level, how we can integrate stronger security and Web3 use cases into the Web2 world.”

Web-based crypto adoption is strong

Opera’s Arnesen shared a similar perspective on Telegram’s crypto adoption versus adoption through web browsers.

“While Telegram’s TON blockchain and projects like Hamster and Notcoin have undeniably made waves, we believe that web-based crypto adoption is poised to outpace even these impressive strides,” he said.

Related: Telegram’s crypto holdings rose to $1.3B in H1 2024: Report

Chrome browser, which has 3.45 billion users in 2024, has also “fostered a thriving ecosystem of crypto extensions and tools, empowering users to interact with crypto directly within their browser,” Arnesen added.

TON ecosystem expands beyond Telegram

Although Telegram is home to the TON ecosystem, the TON Foundation doesn’t see Telegram as the exclusive platform for its engagement, TON Foundation ecosystem lead Alena Shmalko told Cointelegraph.

“Telegram is just one distribution channel for TON-based projects, although it’s a very big one with over 950 million users,” Shmalko said, adding:

“We’re working around the clock to foster a decentralized ecosystem where the most exciting Web3 products on TON are accessible through whichever method the end-user wants to engage with most — whether that’s as a web app, a Telegram Mini App, or even as a Chrome extension.”

While the TON Foundation is working to expand TON’s reach beyond Telegram, the messenger’s founder and CEO, Pavel Durov, remains under investigation in France.

With French prosecutors accusing Durov of facilitating a platform that enables “illicit transactions,” Telegram’s founder faces up to 10 years of prison time.

Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex