Telegram announces it will make its own Exchange

Telegram founder Pavel Durov has made known his desire to launch decentralized cryptocurrency products.

Following the bankruptcy of FTX, centralized developments were highly questioned by cryptocurrency users.

A plan that seeks to innovate in this sector is Telegram, which through its official Telegram channel, the CEO announced the construction of innovative decentralized tools for cryptocurrency users.

“Telegram’s next step is to build a suite of decentralized tools, including custodial-free wallets and decentralized exchanges, for millions of individuals to safely trade and store cryptocurrency.”

Telegram gets into the future of blockchain technology

At the beginning of October, Telegram launched its service to make transactions with Bitcoin (BTC) and the TON token, which is part of The Open Network, developed by the messaging app.

In other words, viable thanks to the @wallet bot, where users can trade these cryptocurrencies with fiat currencies such as the United States dollar, the euro, the Russian ruble, the Ukrainian hryvnia, the Belarusian ruble, and the Kazakhstan tenge. The post that Telegram will launch its decentralized cryptocurrency exchange has been first noticed on BeInCrypto.