MoonPay Launches Crypto Deposits Feature to Enable Cross-Chain Funding in Wallet in Telegram
Summary
MoonPay has introduced MoonPay Deposits, simplifying wallet-to-wallet crypto transfers within Telegram's TON Wallet. This feature allows users to fund their accounts seamlessly, converting various assets automatically, enhancing accessibility for over 100 million users in the Telegram ecosystem.
Key Insights
What is a self-custodial wallet, and why does it matter for TON Wallet?
A self-custodial wallet is a non-custodial cryptocurrency wallet where users retain full control of their private keys and assets, unlike custodial wallets managed by third parties. TON Wallet's self-custodial nature preserves user freedom and security while enabling seamless cross-chain deposits powered by MoonPay.[1][2]
Sources:
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How does the MoonPay Deposits feature handle cross-chain transfers for TON Wallet?
Users select a token and network (e.g., BTC on Bitcoin, USDC on Ethereum or Solana), generate a deposit address in TON Wallet, and transfer funds; MoonPay automatically manages bridging, swapping, and conversion behind the scenes, delivering Toncoin or TON-based USDT (stablecoins at 1:1 rate) directly to the wallet without manual steps.[2][3][4]