Telegram’s integrated crypto wallet bot, Wallet, has opted for custody over self-custody to facilitate a smoother onboarding process for new crypto users, according to Wallet chief operating officer Halil Mirakhmed. With Telegram’s choice to go for a custodial solution, however, onboarding becomes “very simple,” the Wallet COO said, adding that all a user then will need to send money to someone is their contact information on Telegram, and no public blockchain keys will be necessary. Popular self-custodial (also called non-custodial) wallets include Ethereum’s web extension wallet MetaMask, which requires users to manage their own seed phrases.
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