In a strategic move towards transforming Telegram into a comprehensive “Web3 super app,” The Ramp Network (RAMP), a fintech company specializing in connecting the crypto ecosystem with traditional finance, has entered into a partnership with The Open Network (TON). This partnership aims to establish an on-ramp within Telegram, allowing users to seamlessly explore the world of Web3 and easily acquire Toncoin (TON) and other cryptocurrencies using their preferred payment methods.
Enabling Web3 Exploration within Telegram
The collaboration involves the creation of an on-ramp by Ramp Network, facilitating Telegram users’ direct engagement with the Web3 world through the messaging app. This initiative is poised to simplify the process of purchasing Toncoin and various cryptocurrencies, offering users a range of payment options, including credit and debit cards, bank transfers, Apple Pay, Google Pay, and the widely used PIX system in Brazil.
Benefits for Developers and Mass Adoption
Furthermore, developers will have the opportunity to integrate the on-ramp into their applications, providing enhanced access to Telegram’s extensive user base of 800 million daily active users. Daniel Yang, Global Business Development Lead at TON Foundation, underscores the importance of borderless payments and emphasizes the necessity for a smooth onboarding process to facilitate broader Web3 adoption among non-native users.
Szymon Sypniewicz, CEO at Ramp, expressed enthusiasm about the collaboration, emphasizing its versatility and flexibility. He highlighted the joint mission with TON to democratize access to Web3 for hundreds of millions of Telegram users by enabling them to purchase TON with local currencies and preferred payment methods.
TON’s Active Pursuit of Partnerships and Milestones
Since its establishment in Switzerland in early September 2023, The Open Network Foundation has been remarkably proactive in forging partnerships and achieving significant milestones. Notably, TON attained the status of the world’s fastest blockchain in November of the same year.
In the realm of partnerships, TON has demonstrated a recent inclination towards social platforms. The collaboration with RepubliK, announced on December 19, underscores TON’s commitment to creating a user-friendly and innovative social media platform. This platform aims to assist users familiar with Web2 in making a seamless transition to Web3.
Conclusion: A Leap Towards a Web3-Enabled Telegram
The partnership between Ramp Network and The Open Network represents a strategic leap towards turning Telegram into a central hub for Web3 engagement. By providing users with convenient on-ramp solutions and a variety of payment options, this collaboration not only simplifies the acquisition of cryptocurrencies but also promotes the mass adoption of Web3 technology. The active pursuit of partnerships and milestones by TON further solidifies its position as a key player in the evolving landscape of blockchain and decentralized technologies.