Telegram Will Launch a Non-custodial Wallet and DEX

The team behind messaging app Telegram intends to develop non-custodial wallets and decentralized applications, including a DEX, Telegram founder Pavel Durov has said.

According to him:

“The blockchain industry is built on the promise of decentralization, but in the end, all power was concentrated in the hands of a few people who began to abuse it. As a result, many people lost money when FTX went bankrupt.”

He has said that industry projects should “go back to the roots” and switch to trustless transactions and non-custodial wallets.

He has noted the Fragment marketplace, launched in October. According to him,m a team of five people, including him, worked on a platform for selling account identifiers for five weeks.

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