The online messaging application Telegram has recently announced a change in its cryptographic wallet provider.
The company has opted for the WOT Global Solution LTD. This change is effective and available to messaging users from May 30, 2024.
Enhanced security for messaging users
This transition aims to improve the overall user experience in Telegram. It also aims to introduce additional layers for enhanced security.
To this end, it will make the request for information on customer knowledge, or KYC, Know Your Customer mandatory in English.
Therefore, names, birth dates, and phone numbers will need to be provided for each new user.
To be able to use this new solution, they will need to accept the new terms and conditions. These will be required for every account wishing to use the wallet once the migration is complete.
This validation is essential in order to benefit from the data transfer and service usage functions over time.
According to Telegram, users will remain free in their use of this new solution. Thus, it will be possible for them to withdraw their funds whenever they wish.
Additionally, customers will have the option to permanently delete their accounts if they are not satisfied with these changes.
Telegram’s decision comes as the games offered by the platform are becoming increasingly popular.
Public interest in Telegram’s technologies
The adoption of blockchain technology by the messaging application has boosted interest in cryptocurrency.
Indeed, Open Network, the origin of the WOT Global Solution LTD, recently recorded over $319 million in additional deposits. A significant increase in the number of wallets created has also been observed.
Hamster Kombat, a game from Telegram’s library, is notably experiencing a significant resurgence in interest. It now has more than 8 million users.
Additionally, Notcoin, Telegram’s official token, offers its holders cryptocurrency rewards for completing certain tasks.
Furthermore, analysts believe that such initiatives could strongly foster the future adoption of Telegram’s cryptocurrency.
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