This latest development positions Telegram as a key player in merging everyday communication tools with decentralized finance and digital asset management—all within a familiar interface.

In-App Crypto Wallet Now Available to U.S. Users

With this rollout, U.S. users can now send, receive, and manage digital assets without ever leaving the Telegram app. TON Wallet, built on The Open Network (TON), eliminates the need for browser extensions or external applications. It provides a self-custodial wallet structure, meaning users retain complete control over their private keys.

Sending crypto is now as easy as sending a message, opening up seamless transactions in a user-friendly environment.

More Than Just a Wallet: DeFi, NFT Access and Beyond

TON Wallet extends far beyond basic storage. Users gain access to the broader TON ecosystem, which includes DeFi tools, games, digital marketplaces, and various Web3 applications.

Supported assets include Toncoin, USDT, and a variety of TON-based tokens—including non-fungible tokens (NFTs). Integration with MoonPay allows users to buy USDT with 0% fees using Apple Pay, Google Pay, or credit cards.

Key Features at a Glance

• Off-ramp capabilities: Users can withdraw crypto directly to their bank cards.

• Built-in trading tools via platforms like Omniston and Ston.fi.

• Support for token staking through third-party integrations.

• Advanced security enhancements such as whitelisting, blacklisting, transaction simulation, and fraud detection tools are set to launch soon.

Mini Apps and the U.S. Market Strategy

A standout aspect of the TON Wallet integration is its role in powering Telegram Mini Apps, which include payments, on-chain tools, and games—all accessible directly through the app. The wallet is the bridge between users and a growing Web3 experience.

The United States has always been a strategic target for TON Wallet expansion. While the feature had already been rolled out in Asia and Russia, its launch in the U.S. represents access to Telegram’s 87 million+ American users, opening the door to significant growth.

As of 2024, over 100 million users worldwide had activated TON Wallet, underscoring global demand for seamless, secure, and integrated crypto experiences.

Funding and Ecosystem Support

Behind TON Wallet is The Open Platform (TOP)—a company focused on building Web3 solutions for Telegram. On July 3, TOP announced a successful Series A funding round, raising $28.5 million and reaching a $1 billion valuation. The round was led by fintech giant Ribbit Capital, with support from Pantera Capital, a major name in the crypto VC space.

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What Did MoonPay CEO Soto-Wright Say?

In a post on X dated April 18, Soto-Wright urged Congress to “leave a path for state-regulated issuers to remain in the system.” His remarks came amid discussions on two bills: the GENIUS Act in the Senate and the STABLE Act in the House.

Soto-Wright emphasized, “Although the crypto industry has long demanded federal regulation, it’s been the state regulators who have truly provided regulatory clarity, ensured consumer protection, and enabled the sector’s growth.” He underlined that the role of state authorities should not be underestimated.

As federal legislation nears completion, the MoonPay CEO stressed the importance of maintaining a viable route for permitted stablecoin issuers (PSIs) under state oversight. According to him, these issuers should be treated on equal terms with their federally regulated counterparts.

Similar Message from State Bank Supervisors

The Conference of State Bank Supervisors (CSBS) echoed similar concerns, sending a letter to the House Financial Services Committee on April 1, advocating for a continued state-based regulatory framework. Both the Senate Banking Committee and the House Financial Services Committee advanced the respective bills in March and April, moving them toward a full chamber vote.

The STABLE Act in the House, modeled after the GENIUS Act in the Senate, aims to regulate payment stablecoins by limiting them to “permitted payment stablecoin issuers,” while allowing participation from “state-qualified” entities. However, Soto-Wright argued that the GENIUS Act “stacks the deck” in favor of federal regulators and designates the Federal Reserve as the sole federal regulator for all state PSIs.

Trump-Backed Stablecoin Project Sparks Controversy

While it remains unclear whether these bills will pass both chambers of Congress, a new stablecoin initiative backed by U.S. President Donald Trump and his family has stirred further debate. The project has raised concerns about potential conflicts of interest, which could complicate the legislative process.

Launched in September 2024 by a firm called World Liberty Financial, the initiative has already attracted around $600 million in investment, mostly through token sales. Major backers include Tron founder Justin Sun, market maker DWF Labs, venture firm Oddiyana Ventures, and investment platform Web3Port. As of March 24, the project’s stablecoin, named USD1, was not yet tradable.

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Uniswap Partners with Robinhood and Payment Platforms to Convert Crypto to Fiat

Decentralized exchange Uniswap announced it has partnered with trading platform Robinhood and several payment platforms to facilitate crypto-to-fiat transactions.

Starting on February 27, users in more than 180 countries can sell supported crypto assets and deposit funds directly into their bank accounts through Robinhood, MoonPay, and Transak. Uniswap stated that fiat onramping and offramping are active in the Uniswap wallet on both Android and Apple iOS, and will soon be available in the Uniswap extension and web app.

Uniswap noted that the transition between crypto and fiat has “historically been frustrating” as users needed to sign into centralized exchanges and deal with crypto addresses. However, this can now be done with “just a few clicks” using the DEX wallet.

This move follows just days after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Uniswap Labs.

On February 25, the SEC announced that it had completed its investigation and had no plans to take enforcement action against the firm. Uniswap had received a Wells notice from the SEC in April during Gary Gensler’s tenure. Uniswap Labs called it “a huge win for DeFi.”

Uniswap Launches New Platform Amid Crypto Market Downturn

The securities regulator also dropped its investigation into Robinhood’s crypto division in the same week, after threatening legal action against the firm in 2024.

According to DefiLlama, Uniswap is the world’s largest DEX, with a total value locked (TVL) of $4.2 billion. However, TVL has decreased by 30% since the beginning of 2023, following the broader downturn in the crypto market. It has also fallen from its all-time high of $10 billion in 2021.

Uniswap launched its highly anticipated v4 platform in late January, offering improved user experience and developer options across 12 chains.

However, Uniswap’s native token UNI fell by 5.4% on the day, dropping to $7.60 at the time of writing, amid a broader market decline.

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Ripple President Monica Long also anticipates that Ripple USD (RLUSD) stablecoin will be listed “imminently” on major cryptocurrency exchanges.

In a January 7 interview with Bloomberg, Long confirmed that Ripple is actively working on additional exchange listings for RLUSD.

“We are continuing to expand the distribution and availability of Ripple dollars on other exchanges. So, I think you can expect to see more access and new announcements coming soon… very soon,” she said. However, she declined to provide specifics regarding RLUSD listings on major platforms like Coinbase.

According to Ripple’s website, RLUSD is currently available on Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, B2C2, Keyrock, Archax, Independent Reserve, and JST Digital.

Ripple launched RLUSD on December 17 as a stablecoin pegged 1:1 to the US dollar. At the time of publication, the stablecoin’s market cap was $71.8 million, according to CoinGecko data.

Ripple Market Cap

More than 76% of RLUSD trading volume is concentrated on the Bullish crypto exchange, split between two main trading pairs, RLUSD/USD Coin and XRP/RLUSD.

Meanwhile, the decentralized exchange Sologenic handles a smaller portion of the market. The XRP/RLUSD pair on Sologenic recorded $3.4 million in 24-hour trading volume, representing 3.56% of the total volume.

Ripple President: “Our business has doubled.”

The demand for RLUSD primarily comes from Ripple’s payment services, and President Monica Long stated that this segment of the business has doubled in the past year.

“Our business in the payments sector doubled last year, and therefore we see a very strong growth potential for our payment solution. Along with that, Ripple US Dollar will play an important role,” she said.

Long anticipates strong growth for stablecoins.

“We think this year will be a big year for crypto overall, and so demand for stablecoins will increase along with that. Stablecoins are really the main way to on-ramp and off-ramp,” she added.

According to DefiLlama data, the stablecoin market has grown by 55% since last year, reaching $206.2 billion. USDt remains the largest stablecoin, holding 66% of the market share.

“XRP ETF Coming Soon!”

Long indicated that XRP could be next in line for its own exchange-traded fund (ETF):

“I think we will see one very soon […] XRP is likely to be the next asset after Bitcoin and ETH.”

Several companies, including WisdomTree, have already taken steps to launch an XRP ETF. WisdomTree filed for approval with the US Securities and Exchange Commission (SEC) on December 2, 2024. Bitwise, Canary Capital, and 21Shares have also filed for similar products.

Long expressed that with the change in the US administration, the approval process for ETF filings will “accelerate.”

Ripple Chainlink Partnership

To enhance the utility of RLUSD, Ripple partnered with Chainlink on January 7 to integrate price feeds for RLUSD on Ethereum and the XRP Ledger.

This collaboration aims to provide tamper-proof, accurate price data, support DeFi applications, and reduce risks such as price manipulation or downtime.

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Ripple Labs CEO Brad Garlinghouse announced that the New York Department of Financial Services (NYDFS) has approved the company’s RLUSD stablecoin after months of evaluation.

In a post on X on December 10, Garlinghouse stated that following the NYDFS approval, Ripple will soon announce exchange and partner listings for RLUSD. The company had launched plans for this stablecoin in April, positioning it as a competitor to Tether’s USDT and Circle’s USD Coin.

Brad GarlingHouse’s tweet:

Ripple executives have predicted that the stablecoin could reach a market value of $2 trillion by 2028.

The company began testing RLUSD in August on the XRP ledger and Ethereum mainnet, and in October, it announced partnerships with exchanges such as Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.

In September, Garlinghouse mentioned that Ripple planned to focus RLUSD on institutional players. As of December 10, the combined market value of USDT and USDC was recorded at approximately $180 billion.

How will Ripple manage both XRP and RLUSD?

Like other USD stablecoins, RLUSD will be pegged 1:1 to the US Dollar.

In April, Ripple announced plans to back the tokens with USD deposits, short-term US Treasury bonds, and “other cash-like assets.”

In June, Ripple President Monica Long stated that RLUSD would be “complementary and additive” to XRP.

Garlinghouse appeared in a 60 Minutes segment aired on December 8, discussing the cryptocurrency industry’s influence on the 2024 United States elections.

Ripple is also engaged in an ongoing legal battle with the US Securities and Exchange Commission (SEC) regarding XRP token offerings.

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Following the two firms revelation of a strategic merger in May 2024 allowing MoonPay customers to buy and trade crypto using their PayPal accounts, MoonPay’s support of PYUSD follows.

Reportedly supported 100% by U.S. dollar deposits, short-term U.S. Treasury bonds, and similar cash equivalents, PYUSD is a dollar-redeemable, payments-oriented stablecoin. One of the first stablecoins aimed at consumers released by a big financial services provider, fintech behemoths Robinhood and Revolut apparently want to follow suit.

PayPal has long been keen on gaining market share among notable fintech startups engaged in the digital assets sector. PayPal revealed late last month intentions to let American business clients purchase, sell, store, and distribute cryptocurrency.

DefiLlama claims PayPal’s stablecoin decreased to roughly $705 million after exceeding $1 billion in market capitalization in August. Once PYUSD expanded to Solana, its quantity on the network exceeded that of competing blockchain Ethereum. On Solana, the PYUSD supply has dropped back below the Ethereum total nonetheless.

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In an announcement today, MoonPay CEO Ivan Soto-Wright revealed the company’s contribution to Stand With Crypto, emphasizing the pivotal role of the elections in shaping the cryptocurrency landscape in the United States.

“Our donation to Stand With Crypto reflects our commitment to advocating for a clear regulatory framework that promotes innovation while safeguarding consumers,” stated Soto-Wright.

The undisclosed contribution from MoonPay arrives shortly after Stand With Crypto launched a political action committee (PAC) aimed at rallying support from its 450,000-strong membership base for candidates aligned with pro-crypto policies.

Nick Carr, chief strategist of Stand With Crypto, highlighted the PAC’s objective of endorsing and supporting candidates who champion the rights of cryptocurrency enthusiasts throughout the electoral process.

Coinciding with Coinbase’s ongoing efforts to engage with financial regulators, the establishment of Stand With Crypto underscores the exchange’s proactive approach to shaping cryptocurrency legislation in the U.S.

This initiative follows Coinbase’s legal skirmishes with the U.S. Securities and Exchange Commission (SEC), which accused the exchange of violating securities laws. Despite recent legal victories, Coinbase faces continued legal challenges, including allegations of investor deception.

Coinbase’s foray into political advocacy marks a significant shift from its previous stance of maintaining an apolitical culture. CEO Brian Armstrong previously emphasized the company’s focus on its mission, steering clear of political entanglements.

As the cryptocurrency industry increasingly intersects with politics, MoonPay’s support for Coinbase’s Stand With Crypto initiative underscores the sector’s growing influence in shaping regulatory frameworks.

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