Telegram crypto wallet unveils yield for Bitcoin, Ethereum and USDT holdings

Wallet in Telegram, a crypto solution embedded into the Telegram messaging app, said Thursday it is rolling out onchain yield options for holders of Bitcoin, Ethereum and USDT.

The feature is available through TON Wallet, the self-custodial solution within Wallet in Telegram. Morpho, TAC and Re7 are helping facilitate the integration, according to a statement.

The new “vaults” allow users to deposit assets into onchain strategies designed to generate variable yield. "Among the available USDT strategies, the top-yield option delivers a blended APY of up to 18%, powered by the Re7 DeFi strategy," the statement said. "In addition, ETH and BTC Vaults extend yield functionality to two of the most widely held crypto assets."

Since 2024, blockchain-based developers have attempted to tap Telegram's large user base by drawing them into The Open Network, or TON ecosystem.

After an initial flurry of interest, fueled in part by tap-to-earn games promising token rewards, the Telegram-based crypto ecosystem has struggled to maintain momentum.

In the past, some TON community members have criticized the ecosystem for favoring specific Mini Apps within the Wallet in Telegram. Backed by The Open Platform, the Telegram-based crypto wallet has more than 150 million registered users, according to a statement.

"With Vaults in TON Wallet, we are bridging the gap between sophisticated DeFi protocols and hundreds of millions of users," said Andrew Rogozov, founder and CEO of The Open Platform and Wallet in Telegram. “Access to self-custodial vault strategies for ETH, BTC and USDT directly within TON ecosystem is a massive step toward making decentralized finance truly universal.”