The team behind non-custodial crypto wallet SafePal announced the launch of a Telegram Mini App that will allow the creation of fully compliant individual cryptocurrency accounts in Swiss banks.
Veronica Wong, CEO and Co-Founder of SafePal, spoke during a keynote at the TON Gateway conference about the launch of the Telegram Mini Wallet app, which will allow messenger users to create personalized crypto accounts in Swiss banks that comply with the regulatory requirements of the Swiss Financial Market Supervisory Authority (FINMA). The app is expected to be fully launched in November 2024.
According to Veronica, the wallet will be Telegram’s first mini app that implements the principles of centralized-decentralized finance (CeDeFi) and will allow digital crypto transactions through the Visa payment network.
Users will be able to access their bank accounts and link them to a digital Visa card after registering and undergoing KYC procedures provided by Swiss FinTech company Fiat24. Each user’s registration data will be stored separately, and only the relevant departments of Fiat24 will have access to it, in compliance with the FINMA banking laws.
It’ll be possible to use the card for payments in all countries of the European Economic Area, as well as in selected countries in the Asia-Pacific region, including China, Singapore, Indonesia, and Thailand. SafePal’s infrastructure will allow digital assets to be used on more than 100 blockchains.
The company also plans to launch a Mastercard digital card in Q4 2024 and expand its presence in Europe and the Asia-Pacific region. In addition, SafePal intends to jointly launch a hardware wallet with TON and Telegram.
Max Krupyshev, CEO of CryptoProcessing.com, noted during the Purpose Driven FinTech podcast the growing popularity of crypto financial solutions as well as significant regulatory changes. In his opinion, one of the main trends in blockchain technology today is the creation of very cheap and fast payment solutions. Among the leaders in this regard, Max singled out blockchain networks TRON, Solana, and TON.
In early 2024, Telegram users got the opportunity to pay with TON for various tourist events in more than 230 countries, as well as to order taxis in Singapore, Thailand, Vietnam, and Cambodia with payment in TON and USDT.
