SafePal, which offers hardware wallets, software wallets, and browser extension wallet solutions and is currently used by more than seven million customers globally, has announced support for The Open Network (TON/USD).
According to the wallet developer, TON support is initially available through the hardware and software wallet options, with browser extension to be rolled out later.
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SafePal partners The Open Network
Integration for the TON token follows a strategic partnership between SafePal and The Open Network, a blockchain project originally initiated by the messaging app Telegram. The project is currently an independent, open-source initiative run by the community after Telegram shelved it in May 2020 following a legal battle with US regulators.
SafePal’s support allows users to store and send the TON tokens as well as interact directly with decentralised applications (dApps). SafePal’s decentralised wallet solutions allow users to swap, and trade their crypto assets, as well as explore Web3 due to the wallets’ interconnectivity.
Apart from the wallet support, the two platforms’ partnership also comes with a TON grant aimed at supporting the blockchain project’s open-source development, including across security and interoperability.
Commenting on the wallet support and the need for open-source development, Justin Hyun, TON Foundation’s Head of Incubation, noted:
“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.”
$TON price surged amid SafePal news
The TON token surged on Wednesday after the news, with the digital asset’s price rising as high as $2.59 on major crypto exchanges. The more than 14% spike in TON price in the past 24 hours has seen the token’s price soar by 50% in the past two weeks.
TON’s upside is down to increased interest in blockchain, with projects like decentralised exchange STON.fi and @wallet service increasingly popular across the industry.