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Pavel Durov will build DEX and cryptocurrency wallets

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Pavel Durov confirmed his intentions to build decentralized exchange houses (DEX) and cryptocurrency wallets. These tools will be built on the Telegram Open Network and will aim to complement the Telegram messaging app.

Last October, Telegram revealed that it will auction off a number of platform usernames via Fragment.an auction platform based on the Telegram open network. This initiative aimed to combine community demand with the implementation of a blockchain network directly on Telegram.

Last Wednesday, Pavel DurovTelegram CEO, revealed that Fragment has raised $50 million to date.and that this number was growing. Durov acknowledged that the first use of the Telegram Open Network was a success. Regulatory pressures forced Telegram to abandon its blockchain project, but before it abandoned it, it released all the code it had developed to the community. The community continued to develop and maintain the network, and because of it, Telegram was able to return to using blockchain.

In their statement, Durov confirms that after the success of Fragment, this will only be Telegram’s first step in terms of using blockchain.. Durov spoke about a project focused on the deeper cryptographic development for Telegram, a project that includes both the development of a decentralized exchange platform (DEX) and the creation of a noncustodial wallet. which could reach its millions of users. The app’s audience is a very important point within the project, as a large percentage of Telegram users are familiar with cryptocurrencies.

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Durov’s message is confirmation of Telegram’s first direct and official involvement with the Telegram Open Network blockchain, in reference to the integration of Fragment. Previous projects were the work of the community itself, which received support from Telegram but merely saw progress without interacting. This is the example of Toncoin, a rival project that grew out of the initial concept of the TON network and was officially recognized by Telegram.

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Yesterday, the sponsors of the TON network decided to launch a rescue fund to support the development of the network itself. A total of 126 million for projects that were affected by the FTX stock market crash..

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