Telegram to build non-custodial wallets and decentralized exchanges, says CEO Pavel Durov

Pavel Durov, the founder of Telegram, announced that the company would launch a range of decentralized cryptocurrency products, including a decentralized exchange (DEX) and a non-custodial wallet.

Telegram's next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the current excessive centralization.

— Pavel Durov (@durov) November 30, 2022

The CEO made the announcement on Wednesday via his Telegram channel amid the ongoing crisis following the collapse of the crypto exchange FTX.

“The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power, ” Pavel said.

More details to follow.

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