Bitget Wallet Director Emphasizes the Ecosystem's Growth at TON Gateway in Dubai

Bitget Wallet discussed how its new multi-chain Telegram wallet offers crucial infrastructure support to tackle key challenges within the TON ecosystem during the TON Gateway

/EIN News/ -- VICTORIA, Seychelles, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Bitget Wallet, the leading non-custodial Web3 wallet, recently sponsored the TON Gateway event held in Dubai. The ecosystem attributes its widespread adoption to the growing TON community. The Web3 wallet was represented in a panel discussion titled "Perspective Sectors on TON for VC and Exchanges," by Jamie Elkaleh, Marketing Director at Bitget Wallet, alongside industry leaders from TON Ventures, Binance, KuCoin, Kenetic, and Pantera Capital. In the panel, Elkaleh emphasized the unique opportunities presented by the TON ecosystem and how the newly launched Bitget Wallet Lite, a multi-chain Telegram wallet, addresses existing TON ecosystem and infrastructure challenges which helped them onboard over 6 million users in just three days after its launch.

Elkaleh highlighted that the integration of TON with Telegram—a platform boasting nearly 1 billion users—provides an expansive user base that can effectively bridge Web2 and Web3. However, he noted significant challenges within the TON ecosystem, particularly the underdeveloped DeFi sector. Compared to leading blockchains, TON's DeFi projects lag in both quantity and quality, limiting the potential for growth. Although the primary user base is driven by Telegram mini-apps, the lack of a robust DeFi infrastructure restricts the overall development of the TON ecosystem, hindering its growth potential.

Recently, Bitget Wallet has launched Bitget Wallet Lite, a non-custodial multi-chain wallet integrated within Telegram, that helps tackle TON's challenges. This innovative wallet allows users to seamlessly purchase, manage, and transfer crypto assets directly within the messaging app, facilitating cross-chain DeFi activities, and will support more activities token swap, staking, and liquidity mining in the future. By enhancing user interactions and transactions, Bitget Wallet Lite promotes ecosystem integration, making crypto operations more efficient and user-friendly directly within Telegram. Furthermore, the wallet empowers developers by providing tools for encrypted payments and trading flows, creating new revenue streams and fostering the development of high-quality mini-game applications within the Telegram ecosystem. Looking ahead, Bitget Wallet Lite is bound to onboard more Web2 users into Web3 seamlessly and contribute to the growth of the TON ecosystem.

Bitget Wallet has seen remarkable growth this year, now surpassing 40 million users globally and becoming the most downloaded Web3 wallet. Its integration with Telegram and the TON ecosystem has been pivotal to this success, enabling users to manage assets and interact with DApps effortlessly. Recent statistics show a staggering 4886% quarterly growth in TON chain addresses among Bitget Wallet users. The company’s proactive initiatives, including being the first to fully integrate with the TON ecosystem, launching the first MPC wallet supporting TON and partnering with over 40 TON ecosystem projects, have established Bitget Wallet as a leader in driving ecosystem growth and simplifying user access to TON.

Looking to the future, Elkaleh envisions a bright trajectory for the TON ecosystem. "The growth of the TON ecosystem will continue to be driven by Telegram mini-apps integrating more social, DeFi and gaming activities, simplifying the experience for new users," he stated. "With the rise of PayFi initiatives and the expansion of the ecosystem, TON is well-positioned to leverage its connection with Telegram for significant user adoption. We estimate that the stablecoin transfers on TON will also continue to grow over the next year, underscoring the vast potential for growth within this dynamic ecosystem."

Experience Bitget Wallet Lite: https://t.me/BitgetWallet_TGBot

About Bitget Wallet

Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 40 million users, it offers comprehensive on-chain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, and an NFT marketplace. Designed for everyone from beginners to advanced traders, it supports mnemonic, MPC, and AA wallet options. With connections to over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300 million protection fund for your digital assets.

Experience Bitget Wallet Lite to start your Web3 journey.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/220a53bb-0462-484e-95a0-2060ffadf51c