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    SafePal and Fiat24 to Launch Innovative Mini App on Telegram for CeDeFi Transactions

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    SafePal, known for its crypto wallet, is set to launch an innovative mini app on Telegram. This app, to be launched this November, will allow users to create fully regulated bank accounts that accept both centralized and decentralized finance (CeDeFi) transactions. The app, run by Swiss fintech company Fiat24, requires a KYC check and onboarding process and includes crypto Visa card transactions. Other features include the ability to send, receive, and manage both cryptocurrency and traditional cash, and plans to include a swap function across various blockchains and expansion into Europe and the Asia-Pacific region.

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    The mobile crypto wallet SafePal is launching its own mini app, right on Telegram. The news officially dropped on Nov. 2 at an event showcasing The Open Network (TON) ecosystem. The mini app allows any of Telegram’s 950 million users to create their own crypto-friendly Swiss bank accounts.

    The new mini app on Telegram is set to launch this November. This exciting development means that users will be able to create their own fully regulated bank accounts overseen by Swiss authorities, according to SafePal. The most interesting part? This wallet app claims to be the first Telegram mini app that fully accepts both centralized and decentralized finance (CeDeFi) and includes transactions through a crypto Visa card.

    SafePal’s decision to dive into Telegram’s growing crypto world comes at a time when more and more people are playing and earning rewards from tap-to-earn games on Telegram. According to SafePal’s CEO, Veronica Wong, these kinds of apps really showcase the effectiveness of Telegram in bridging the gap between users and the crypto industry, which made joining this space a no-brainer.

    To use these new bank accounts and link them to a digital Visa card, users will have to complete a Know Your Customer (KYC) check and an onboarding process. The process is run by Swiss fintech, Fiat24, through SafePal’s app for Telegram. There are zero account or management fees involved in this process with registration data and cash accounts managed separately for safety.

    The newly launched mini wallet comes packed with features. Not only can users enjoy the ability to send, receive, deposit and withdraw both crypto and traditional cash, but SafePal is also planning to launch a swap function to offer smoother operation across over 100 different blockchains. Plans are also underway to extend the company’s reach to Europe and the Asia-Pacific region with the targeted launch of a digital Mastercard function set for late 2024.

    SafePal’s new venture is part of a larger strategy to improve the security of the TON and Telegram ecosystem. It follows a trend of other crypto firms launching wallet apps on Messenger, a trend that SafePal’s Wong is excited about as it signals how effective Telegram has been in onboarding users into the crypto industry. A major global crypto exchange, Bitget, also launched its wallet on Telegram at the end of October.

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