Telegram’s Open Network partnership could make it the next WeChat

A report by GSR supports the idea that this integration could drive mainstream crypto adoption, aligning with Telegram’s aim to become a comprehensive app for diverse user needs.

Criminal networks in Southeast Asia are increasingly using Telegram to trade hacked data and malware on a large scale, a UN report reveals.

Telegram’s integration with the decentralised Open Network positions it to become an ‘everything app,’ potentially expanding its offerings to include social media, payments, finance, and entertainment, similar to China’s WeChat. This synergy, which includes crypto trading features, sets Telegram apart from other platforms, according to Bitget CEO Gracy Chen. She highlights the app’s adoption in emerging markets, particularly in Africa, where it is popular among young users, with Nigeria and Egypt leading in user percentages.

Chen attributes Telegram’s popularity partly to its tap-to-earn mini-games, which attract users but are seen as a short-term engagement tool. She compares this to WeChat’s early days, where users eventually transitioned from games to the platform’s core features such as financial services. The recent drop in players of Telegram’s popular game Hamster Kombat, which saw an 86% decline in users since July 2024, supports this view of shifting user behaviour.

A recent report by GSR, a crypto trading and liquidity provider, underscores the potential of the Open Network to drive mainstream crypto adoption through Telegram. Researchers argue that the seamless integration of these platforms could onboard millions into the digital asset ecosystem, reinforcing Telegram’s vision to create a comprehensive app for diverse user needs.