More than seven million users worldwide presently use SafePal, which provides hardware wallets, software wallets, and browser extension wallet solutions. SafePal just announced support for The Open Network (TON/USD).
The wallet developer claims that TON support will initially be made available through the hardware and software wallet alternatives, with browser extensions to follow.
SafePal partners The Open Network
Integration for the TON token follows a strategic partnership between SafePal and The Open Network, a blockchain project originally initiated by the messaging app Telegram. The project is currently an independent, open-source initiative run by the community after Telegram shelved it in May 2020 following a legal battle with US regulators.
With SafePal’s assistance, users can send and store TON tokens and communicate with decentralized applications directly (dApps). Due to the interconnectedness of the wallets, users of SafePal’s decentralized wallet solutions can swap, trade, and explore Web3 with their crypto assets.
Apart from the wallet support, the two platforms’ partnership also comes with a TON grant to support the blockchain project’s open-source development, including across security and interoperability.
Commenting on the wallet support and the need for open-source development, Justin Hyun, TON Foundation’s Head of Incubation, noted:
“We are happy to onboard SafePal as the first hardware solution on TON. Furthermore, we are excited about the prospects of SafePal and their journey to open-source, as this builds greater trust and resilience for the safekeeping of assets.”
$TON price surged amid SafePal news
The digital asset price rose as high as $2.59 on significant cryptocurrency exchanges on Wednesday due to the announcement, driving up demand for the TON token. The price of TON has increased by more than 14% in the last day, pushing the token’s two-week price increase to 50%.
TON’s upside is down to increased interest in blockchain, with projects like decentralized exchange STON.fi and @wallet service increasingly popular across the industry.