Telegram to Expand Decentralized Ecosystem, Launch DEX and Self-Custodial Wallet

Telegram has announced plans to launch suite of decentralized cryptocurrency products, including decentralized crypto exchange (DEX) and non-custodial wallet.

Pavel Durov

The popular messaging app, Telegram, has announced plans to launch a suite of decentralized cryptocurrency products. These include a decentralized crypto exchange (DEX) and a non-custodial wallet.

Telegram Encourages Decentralization

Amidst the collapse of FTX, Pavel Durov, the founder of Telegram has announced that the messaging app will launch its own decentralized crypto ecosystem, including a DEX and a non-custodial wallet.


According to Durov, “the blockchain industry was built on the promise of decentralization.” Given the failure of centralization (FTX), the Telegram boss has said that “blockchain-based projects should go back to their roots – decentralization.” 

Durov said, Fragment – a fully decentralized auction platform on The Open Network (TON) – which “took only 5 weeks and 5 people” to develop has sold $50 million in usernames in less than a month.

Telegram to Expand the Ecosystem

Building on the success of Fragment, Durov said Telegram has additional tools to help promote the move toward decentralization. He adds that technologies like TON have the potential to “give the power back to the people.”

The expansion will see Telegram build non-custodial wallets and decentralized exchanges for millions of people to securely trade and store crypto.

On the Flipside

  • Despite increasing calls for DeFi, the sector is not without its own challenges, losing $2.9 billion to hacks since the start of the year.

Why You Should Care

Telegram’s push for decentralization looks to fix the wrongs caused by excessive centralization, which let down hundreds of thousands of crypto users.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia