Self-custodial wallet provider SafePal has launched a Mini Wallet App within Telegram, bringing new crypto features to over 950 million Telegram users. Unveiled officially on Nov. 2 at the TON Gateway event, this app offers users the ability to create “fully compliant bank accounts” overseen by Swiss regulations.
The wallet, which integrates principles of centralized-decentralized finance (CeDeFi), also supports transactions via a digital Visa card. This launch aligns with the rising popularity of Telegram’s tap-to-earn games, which have drawn millions of new users into the Web3 space. SafePal’s CEO, Veronica Wong, highlighted that while many apps offer entertainment, SafePal aims to address more practical needs by providing crypto-friendly and compliant banking solutions.
Users can link their new bank accounts to a Visa card after completing the KYC and onboarding process. The onboarding will be managed by Swiss-regulated fintech firm Fiat24, with no account or management fees. Fiat24 handles registration data independently, keeping SafePal’s wallet suite decentralized.
Wallet Support Features and Plans
The new wallet lets users send, receive, and manage both crypto and fiat within Telegram. SafePal plans to introduce a swap feature across over 100 blockchains, aiming to expand in Europe and the Asia–Pacific region. A digital Mastercard launch is also anticipated in late 2024.
SafePal joins other firms launching Telegram-based crypto wallets, such as Bitget and OKX. Wong notes that Telegram’s ecosystem has proven valuable in onboarding users to Web3, with many apps focusing on interoperability across blockchains.
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