TON Wallet Integration Intentions Clarified by Telegram
The launch date of the anticipate TON blockchain has been set for April after the company announced on Monday that is shelved plans to integrate it with is encrypted Telegram Messenger service. The company further added its intentions to use the online wallet platform for Gram tokens as its stand-alone platform and that it will not serve to give it an advantage over any other third-party wallets.
During the announcement, the company stated, “At the time of the anticipated launch of the TON Blockchain, Telegram’s TON Wallet application is expected to be made available solely on a stand-alone basis and will not be integrated with the Telegram Messenger service. In this regard, the TON Wallet is expected to compete with any other wallet applications designed and offered by third parties.”
However, Telegram is keeping open the door to integrating it in the future, with the company adding: “Telegram may integrate the TON Wallet application with the Telegram Messenger service in the future to the extent permitted under applicable laws and governmental authorities,” the company added.
Interference by the SEC interrupted initial plans
The revelation of interference came as Telegram faced charges within the U.S from the SEC over the sales of unregistered securities. Ton stressed that its Gram tokens are not an instrument for investment but only as asset that is used as exchange in the upcoming blockchain. The company noted, “…you should NOT expect any profits based on your purchase or holding of Grams, and Telegram makes no promises that you will make any profits.”
Due to the lawsuit by the SEC, the company postponed launching its blockchain from October of last year until April of this year. That understandably was supported by investors after Telegram agreed to make a further $80 million investment into its blockchain project.
In other news, the SEC approached the courts alleging that Telegram is not co-operating with its investigation and has refused to submit financial documents relating to its billion-dollar ICO. How this will impact the company, the investigation and investors is to be seen.
Tom Arran
