Wallet developer SafePal has integrated support for The Open Network. TON was originally envisioned and developed by the Telegram team; however, it is currently a completely autonomous and open-source community initiative. The integration not only makes it possible for users to store and send TON within the SafePal hardware and software wallets, but it also makes it possible for users to engage directly with TON decentralized applications (dApps).
Later on, SafePal will also include support for the $TON cryptocurrency within the extension wallet. A grant from The OpenNetwork (TON) will be provided to SafePal as part of the strategic collaboration between the two organizations, which will be used to assist open-source software development. Both parties will coordinate their efforts to build a network that is safe, open, transparent, and interoperable. This will enable the next level of blockchain adoption to take effect.
The Prospects Of The Open Network
The Open Network is experiencing unprecedented interest at the time of the SafePal integration of $TON. STON.fi has emerged as the network’s first DEX and is now being followed by market aggregate DeFi Llama. This coincides with a 50% increase in the value of $TON over the past 14 days.
Thanks to the @wallet service, which was built on TON, it is now possible for the very first time for users of Telegram to send and receive tokens in a seamless manner over P2P between each other. The messaging platform Telegram recently held an auction for tokenized usernames, which was powered by the TON blockchain.
Justin Hyun, Head of Incubation at TON Foundation, said: “We are happy to onboard SafePal as the first hardware solution on TON. Furthermore, we are excited about the prospects of SafePal and their journey to open-source, as this builds greater trust and resilience for the safekeeping of assets.”
The Resurgence Of SafePal Wallets
The collapse of FTX, which has led to an increase in the number of cryptocurrency holders who opt to self-custody their assets, has resulted in a meteoric rise in sales of hardware wallets manufactured by SafePal. In the past two weeks, there has been a rise in price for the native SFP coin that SafePal employs. SafePal provides consumers with three different options for decentralized wallets, all of which allow users to manage, swap, trade, and protect their cryptocurrency assets.
Users are free to navigate the Web3 world in whatever manner they see fit because all three types of wallets are interconnected. Additionally, the SafePal team is working on developing an open-source wallet program. This program will allow third-party developers to access the SafePal mobile app, browser extension, and communication protocol on the hardware wallet.
SafePal was established in 2018, and it provides a comprehensive suite of secure management solutions for cryptocurrencies that are easily accessible to both experienced crypto veterans and newbies. It is also the inaugural and only hardware wallet investment by Binance Labs, Binance’s venture arm. With its innovative hardware wallets, software wallets, and browser extension wallet product lines, SafePal today provides services to more than 7 million customers located all over the world.
This is done using the SafePal app, which also allows users to conveniently store, manage, exchange, and trade their assets. These are paired and maintained through the app. Up to this point, SafePal supports a total of 54 different blockchains and 15 different languages. SafePal’s mission, over the course of its long-term existence, is to enable investors to achieve financial opportunity and independence in a decentralized world.
