There is a new link between The Open Network (TON) Foundation and HashKey Group, a well-known bitcoin exchange based in Hong Kong. The Telegram Messenger blockchain project led to this one. It will be simple for more people to use digital currency thanks to this project.
Through this clever partnership, Asian and Pacific users will have more power because it will be easy for them to cash out their Toncoins. In the history of cryptocurrency transfers, this is a significant move forward.
The South China Morning Post said that the link does more than just make doing business easier. According to the Open Network Foundation, this means working together on new ecosystem projects, training programs, events where people can meet each other, and other things that help new ideas grow.
TON Foundation, HashKey Partner For Toncoin
The reason Telegram stopped working on its TON blockchain in 2020 was because they were worried about the rules.This led to the creation of the Foundation. Building on its work to make the blockchain better, it has added it to Telegram’s ecosystem through a mini-app and strategic relationships.
The Foundation is not part of Telegram, but it is still very linked to the chat app and uses its more than 900 million users around the world.
TON Foundation’s partnership with HashKey is a big chance for the organization. HashKey’s strict regulatory compliance measures, especially its adherence to strict know-your-customer (KYC) protocols, should make it easier for Toncoin to fit in with the Telegram environment.
President of the Open Network Foundation Steve Yun stressed how important it is to follow the rules set by regulators and said he was confident that the organization would be able to carefully align with those rules to make sure they were followed without any problems.
Adding the TON blockchain to Telegram’s mini app environment is a key part of the Foundation’s plan to get more people to use it. Since the blockchain is the default wallet choice in the sidebar of the Telegram app, it gets a lot of attention.
But legal problems still exist, which means that cryptocurrency features in Telegram are limited in places like the US, China, and Hong Kong.
TON wants to take advantage of the “super app” culture that’s common on platforms like Line, Kakao, and WeChat in order to grow in the Asia-Pacific area. The partnership with HashKey aims to take advantage of this cultural fit, appealing to millions of people who are used to the ease of use of super apps.
