What Is Toncoin (TON)? Exploring the TON Blockchain and Telegram's Integrated Crypto Wallet
With over a billion users, Telegram was already successful as a messenger, but the company has chosen to integrate digital assets directly into its core user experience.
The recent rollout of Telegram's crypto wallet to millions of US users represents potentially one of the largest crypto onboarding experiments we've seen. Rather than requiring users to download separate applications or navigate complex exchanges, Telegram is testing whether integrating digital assets directly into messaging will solve the mass adoption challenge that has long puzzled the cryptocurrency industry.
I'll examine the background of Telegram's cryptocurrency strategy, explain what TON and Toncoin represent beyond the marketing, explore the functionality of this integrated wallet system, and assess the potential benefits and risks of this ambitious integration.
Telegram: History and Transition Into Crypto
Founded in 2013 by brothers Nikolai and Pavel Durov, Telegram quickly gained popularity for its focus on speed, security, and user privacy. After leaving their first major success, the Russian social network VK, reportedly due to government pressure, the Durovs set out to create a communication platform free from external influence. This ethos helped Telegram grow to over one billion active users by March 2025.
Telegram's crypto journey began in 2018 with plans for the Telegram Open Network, an ambitious blockchain project that raised $1.7 billion in a private token sale. However, the project faced a major legal challenge from the US Securities and Exchange Commission (SEC), which alleged its "Gram" tokens were unregistered securities. In 2020, Telegram formally abandoned its involvement, refunding investors and open-sourcing the blockchain's code.
This wasn't the end of the story. An independent community of developers, initially known as NewTON, took the open-source code and continued its development, rebranding the project as The Open Network (TON). Despite the formal separation, Telegram has progressively integrated TON-based features, culminating in early 2025 when it made TON the exclusive blockchain for its entire Mini App ecosystem, solidifying a powerful, symbiotic relationship.
What Is The Open Blockchain (TON) and Toncoin (TON)?
The Open Network (TON) is a decentralised Layer-1 blockchain designed for mass adoption. Its core architecture uses a technology called sharding, which allows the network to split and process transactions in parallel, enabling high scalability and speed. In tests, TON has demonstrated the ability to handle over 100,000 transactions per second (TPS), making it one of the fastest blockchains in the world.
Toncoin (TON) is the native cryptocurrency of The Open Network. It serves several key use cases within the ecosystem:
Paying for network transaction fees
Staking to secure the network through its Proof-of-Stake consensus mechanism
Participating in on-chain governance to vote on the network's future
Powering the in-app economy within Telegram for services like ads, premium subscriptions, and developer rewards
Over the years, the TON ecosystem has seen significant growth, surging past 100 million wallets in late 2024. With this growth driven by tap-to-earn games and Telegram's massive distribution, TON attracted significant attention lately. Examples include over $400 million in investment from major venture capital firms, the integrations of the USDT (USDT0) and Ethena's USDe and sUSDe stablecoins, as well as TON becoming the only accepted crypto for app services on Telegram.
What Is the TON Wallet and What Are Its Key Features
A key part of Telegram's strategy is its integrated wallet, which offers a dual experience. In many regions, there is a custodial "Crypto Wallet" for simple transactions. However, the most significant recent development, which went live for US users in July 2025, is the rollout of the self-custodial TON Wallet.
This self-custodial wallet gives users full control over their funds and private keys, a core principle of Web3. It's also the first time such a wallet has been embedded directly into a mainstream messaging platform in the US, reaching an estimated 87 million users.
Key features include the following:
The wallet is built directly into the Telegram app, eliminating the need for separate downloads or browser extensions.
Unlike traditional self-custodial wallets that require users to manage complex seed phrases, TON Wallet uses a split-key backup system. One part is tied to the user's Telegram account and the other to their email, simplifying recovery while maintaining user control.
It supports Toncoin (TON), USDT, and a growing range of other TON-based tokens (known as Jettons) and NFTs.
Users can send crypto to their Telegram contacts as easily as sending a message, perform token swaps via integrated DEXs like Ston.fi, stake tokens to earn yield, and access a universe of DeFi protocols and games through Telegram's Mini Apps.
Through a partnership with MoonPay, users can purchase crypto using credit cards, Apple Pay, or Google Pay. The wallet also offers features to off-ramp funds directly to a bank card.
TON for Payments: Benefits and Risks
The integration of TON within Telegram presents a unique model for the future of peer-to-peer payments, offering significant benefits but also carrying notable risks.
The model's primary advantages revolve around accessibility and ease of use. It provides a direct on-ramp to Web3 for Telegram's billion-strong user base, potentially driving crypto adoption on an unprecedented scale. This is enhanced by a frictionless user experience. By removing the typical complexities of crypto, such as managing long wallet addresses and seed phrases, it makes sending digital assets as intuitive as sending a text message.
Furthermore, the underlying TON blockchain provides impressive efficiency with fast transaction settlements of just 3-5 seconds and considerably low fees. This makes it suitable for micropayments and everyday transfers.
However, this approach is not without its controversies. Chief among the risks are centralisation concerns. Telegram's decision to make TON the exclusive blockchain for its Mini App ecosystem has drawn criticism for creating a walled garden that limits developer choice and clashes with the open, interoperable ethos of Web3.
Additionally, the close relationship between Telegram and TON could potentially attract renewed regulatory scrutiny in the future. Finally, with the self-custodial wallet, the ultimate responsibility for securing assets rests with the user. While the backup system is simplified, it still requires careful management to prevent loss of funds.
Telegram's Vision for a Crypto-Powered Future
Telegram's journey from a privacy-focused messenger to a Web3 super app is a significant development in today's crypto space. The launch of the self-custodial TON Wallet in the US brings the speed and efficiency of The Open Network to millions, creating a user-friendly ecosystem for payments, DeFi, and gaming.
While challenges around centralisation and regulation remain, Telegram's big bet represents a real-world experiment in bringing crypto to a large user base.
How much is 1 TON in South African rands (ZAR)?
As of today, 1 TON = 0.00000 South African Rands (ZAR).
Market data last updated: Aug 11, 2025, 05:12 (GMT)
Common ZAR to TON Conversions
| Amount (ZAR) | TON Amount as of MMM XX, YYYY at HH:MM (GMT) |
|---|---|
| 5 | X.XXXXXX |
| 10 | X.XXXXXX |
| 25 | X.XXXXXX |
| 50 | X.XXXXXX |
| 100 | X.XXXXXX |
| 500 | X.XXXXXX |
| 1,000 | X.XXXXXX |
| 5,000 | X.XXXXXX |
| 10,000 | X.XXXXXX |
| 25,000 | X.XXXXXX |
| 50,000 | X.XXXXXX |
Frequently Asked Questions
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As of now, 1 USDT is around 0.68366 Toncoin.
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Toncoin (TON) is the native cryptocurrency of The Open Network (TON) blockchain. It is used to pay transaction fees, secure the network through staking, participate in on-chain governance, and power the in-app economy in Telegram (ads, subscriptions, rewards).
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You can buy Toncoin in South Africa by using Telegram’s integrated wallet, which allows purchases via credit card, Apple Pay, or Google Pay through MoonPay.
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
Disclaimer: Views expressed in this article are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.