SafePal Extends Its Crypto Wallet Support to the Open Network Ecosystem (TON)

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Crypto wallet service provider SafePal today announced that it has added support for The Open Network (TON) blockchain ecosystem. The integration will allow SafePals users to store and send $TON through their hardware and software wallets, while giving them access to the ecosystem of decentralized applications (DApps) on TON.

TON was first launched by Telegram but the team later abandoned the project due to increasing pressure from US authorities. However, on the positive side, the transition to a fully open-source and independent platform has opened up the TON ecosystem to more Web3 projects; integration with SafePal is the latest fundamental development.

According to the press release, TON has also committed a grant provision which will be used to stimulate the development of open source infrastructure. Ideally, the two projects should collaborate on multiple fronts to create a secure, open, transparent, and interoperable network capable of handling the next era of blockchain adoption.

Justin Hyun, Head of Incubation at TON Foundation, said the partnership will be important in laying the groundwork for open source infrastructure and non-custodial wallet solutions,

We are happy to integrate SafePal as the first hardware solution on TON. Additionally, we are excited about the prospects of SafePal and their journey to open source, as it builds trust and resilience for safeguarding assets.

This step coincides with the growing demand for non-custodial solutions, with most crypto natives withdrawing their funds from centralized crypto exchanges in the wake of the FTX debacle. Sales of SafePals hardware wallets have increased over this period, ultimately increasing the value of its native $SPL token which has been trending higher for the past two weeks.

The TON blockchain project is also getting a lot of attention from major stakeholders in the crypto ecosystem. For starters, they recently partnered with multi-stage Web3 investment firm DWF Labs. Additionally, Telegram has officially launched a P2P auction market for tokenized usernames and channels, currently running on the TON blockchain.

Going forward, SafePal and TON plan to expand their suite of crypto products. The former is already planning to launch an open source program that will allow third-party developers to use its hardware wallet open source frameworks. Meanwhile, the TON ecosystem recently welcomed its first DEX STON.fi, currently followed by DeFi market aggregator Llama.

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