Founded by two Russian brothers, Pavel and Nikolai Durov, Telegram’s Telegram Open Network (TON), has entered into a partnership with Germany’s Wirecard to team up and work on a single platform for digital financial, payment and banking services. TON raised some USD$1.7 Billion in an ICO in 2018, and is the planned cryptocurrency for Telegram.
Telegram, with its 200,000,000 active monthly users, is a popular messaging system with the crypto and blockchain communities – not surprisingly, with its 256-bit symmetric AES encryption, 2048-bit RSA encryption and Diffie–Hellman key exchange.
This follows news of other messaging services such as Facebook’s Whatsapp, Kik and social media sites such as VK in Russia also toying with the idea of tokenizing their ecosystems.
Georg von Waldenfels, Wirecard’s Executive Vice President, Group Business Development, says:
“We are excited to partner with TON Labs, whose extensive experience in highly scalable technologies and distributed solutions, as well as the strong global growth of the Telegram Messenger, will be critical to success our common program. “
Alexander Filatov, managing partner at TON Labs, added:
“The addition of TON Blockchain to Telegram’s growing ecosystem opens up new opportunities for business and technological innovation, and we are looking forward to working with one of the world’s most dynamic and innovative financial technology companies to create synergistic ones To bring next-generation fintech solutions to the market. “
TON Labs say they have the technology, expertise and experience to develop scalable, distributed solutions and offer innovative payment, banking and other financial services technologies as well as a centralized blockchain infrastructure. The team is working on an infrastructure where new projects can be added to the Telegram Open Network platform, which then benefits from the broad Telegram user base.
Wirecard brings to the partnership its extensive experience in developing innovative digital financial services for consumers and dealers worldwide, and bundling of this expertise forms the basis for new joint products and services within the large, globally growing ecosystem of TON and Telegram.
The new partners will gradually announce the launch of products and, in due course, provide further details on the availability of services.
Wirecard (GER: WDI) is one of the world’s fastest-growing digital platforms for financial commerce. We offer both business customers and consumers a growing ecosystem of real-time value-added services around innovative digital payments through an integrated B2B2C approach. This ecosystem focuses on Payment & Risk, Retail & Transaction Banking, Loyalty & Couponing, Data Analytics & Conversion Rate Enhancement solutions across all distribution channels (Online, Mobile, ePOS). Wirecard operates regulated financial institutions in several key markets and holds licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). visit us on www.wirecard.de , follow us on Twitter @wirecard and on Facebook @wirecardgroup.
TON Labs is a central infrastructure and ecosystem developer for TON (Telegram Open Network). The secure and soon to be accessible TON.Dev and TON.Space environments will provide a TON full-node implementation, a versatile toolchain and a state-of-the-art SDK, as well as novel ways for users to interact with fintech services. This allows the developer community to create, deploy, distribute and manage TON chains for consumer and enterprise applications. The Telegram Open Network (TON) is a fast, secure and scalable blockchain and network platform with smart contracts, expandable formal blockchain specifications, support for micropayment channels and off-chain payment networks.