Bitget Wallet Pours $20M into Expanding Telegram Mini Apps Usage
Bitget Wallet has shown solidarity with the Open Network (TON) ecosystem and Telegram-based mini apps. The Bitget-powered wallet platform partnered with a renowned digital firm, Foresight Ventures, to launch $20 million in support of TON and Telegram. Interestingly, the news came amidst a challenging era in which Telegram is devising recovery from a significant financial setback. Relaying the latest development via a press release, Bitget wrote: “At Bitget Wallet, we’re thrilled to announce our latest initiative: the Telegram Mini-App Support Program! In collaboration with Bitget and Foresight Ventures, we’re launching this program to support developers and projects building on the Telegram mini-app ecosystem.” Moreover, according to records, the latest investment initiative comes a few months after the two crypto firms synergistically released about $30 million to the TON blockchain ecosystem. The funding aims to foster the growth and relevance of Telegram-based mini-platforms. GM Web3 devs, this one's for you 👋 At #WalletCon, our COO @alvin_kan launched the $20M Telegram Mini-App Support Program with @ForesightVen and @bitgetglobal 💰 Here's what to expect 👇 💰 $20M funding⚙️ OmniConnect Dev Kit🤝 Top-tier Mini-App partnerships🔥 Investment… pic.twitter.com/Kn44I63yMm — Bitget Wallet 🩵 (@BitgetWallet) November 11, 2024 Bitget Steps Up To Assist In TON’s Recovery It is no longer news that the TON ecosystem has been battling technical and financial crises. The unattractive outlook stemmed from the Chief Executive Officer Patel Durov’s arrest in August. Consequently, its Total Value Locked (TVL) moved from $776.6 million to a low of $311 million. Meanwhile, some platforms that support crypto projects like Notcoin and Hamster Kombat have witnessed declines in adoption and participation these past few months. These events affected the relevance of the TON ecosystem, making it a questionable space for innovations. As part of its efforts to assist in the TON’s Blockchain revival, Bitget stepped up to offer its support to ensure the rapid recovery of the platform. Aside from collaborating with top crypto firms to achieve this aim, Bitget assisted technically by offering its OmniConnect developer kits. Bitget also ensured the listing of Telegram-based projects on its platform. Bitget Presents TON Ecosystem With Special Packages In addition to the investment initiative, Bitget unveiled its unique packages for the TON ecosystem. Some initiatives include incorporating the Decentralized Finance (DeFi) system into Telegram. The exchange introduced the W5 smart wallet standard, which supports gas-free transactions. Similarly, Telegram upgraded its in-app payment options to include the newly established “Telegram stars.” To enhance the trading experience while utilizing Telegram, Bitget supported the vision by designing a trading signal bot integrated into the TON ecosystem. Meanwhile, according to Alvin Kan, the Chief Operating Officer (COO) of Bitget Wallet, TON’s future is bright. Hence, his team is willing to drive its expansion.
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