As Telegram begins rolling out its own crypto wallet, Gram Wallet, founder Pavel Durov said more than 700,000 self-custodial wallets were created on the platform in 48 hours.
According to The Block, Durov said in a statement on Monday that the wallet activates when a user acquires Gram for the first time. The figure shared reflects the number of wallets created; no figure was given for how many had been activated.
Unlike Walt launching a separate app on Telegram, this development involves Telegram expanding the use of its own built-in wallet. Gram is already used on Telegram for purposes such as advertising payments and payments to content creators.
TON Strategy earns revenue from Gram staking
Nasdaq-listed TON Strategy’s third-quarter revenue fell from $15 million to $13.1 million. Most of the revenue came from staking rewards earned on the company’s Gram holdings.
The company ended the quarter with 235.1 million Gram, of which 232.9 million was staked. The company reported a net loss of $24 million, affected by a $27.2 million unrealized loss in the value of its Gram holdings.
Not investment advice.