Mercuryo, a London-based payments infrastructure company, has introduced its on-ramp services within Wallet, the cryptocurrency platform embedded in Telegram.
This partnership enables Wallet users to acquire digital currencies, including Bitcoin (BTC) and Toncoin (TON), using traditional currencies like the U.S. dollar or euro, as reported by crypto.news.
Wallet is a custodial crypto service integrated within Telegram, allowing users to send, receive, and store digital currencies directly through the messaging app. The integration of Mercuryo is expected to reduce fees and simplify the process of converting fiat currency to crypto, addressing a major barrier for newcomers.
“Currently, Wallet in Telegram has a sole on-ramp provider, which is Mercuryo,” said Andrew Rogozov, CEO of The Open Platform, during an interview with crypto.news. “We are looking into additional partnerships to expand the number of countries where zero-fee on-ramps can be offered. Wallet primarily facilitates immediate transfers within Telegram – as easy as sending a message. Essentially, Wallet provides a user-friendly and straightforward way to send crypto to friends and family within Telegram.”
Rogozov also pointed out that many users first encounter cryptocurrency through Telegram.
“Our user base has surpassed 100 million Telegram users, most of whom utilize Wallet as their gateway into the crypto world,” Rogozov added.
On-ramping refers to the process of converting traditional currency into cryptocurrency. Many platforms charge significant fees for this service, making it expensive for users to begin. With Mercuryo’s integration, Wallet aims to offer a more cost-effective solution.
Petr Kozyakov, CEO of Mercuryo, indicated that this collaboration seeks to draw millions of new users into the cryptocurrency ecosystem.
“We anticipate a warm welcome from Wallet’s growing user base, as it serves as a template for onboarding millions of newcomers to cryptocurrency services,” Kozyakov remarked.
Direct access to crypto assets within Telegram
This partnership supports a range of digital assets, including Bitcoin, Toncoin, and Jettons—a form of tokens used within Telegram’s ecosystem. Users can access these assets directly through Wallet without the necessity of using an external exchange.
In recent years, Telegram has been enhancing its cryptocurrency services, with The Open Network blockchain playing a crucial role in its strategy. Toncoin, the native token of this network, is among the prominent layer-1 blockchain assets supported by Wallet.
The integration aligns with Wallet’s broader goal of making cryptocurrency more accessible on Telegram, which boasts over 900 million users.
