Telegram’s Surprising Bet on Cryptocurrency Transactions

Cryptocurrency Transactions Drive Telegram’s Revenue and Growth

According to recent financial reports, Telegram’s revenue and operating loss for the year have reached a total of $108 million, with cryptocurrency transactions playing an increasingly significant role. The surprising trend highlights Telegram’s growing dependence on digital assets to generate revenue. Two new revenue streams, “integrated wallet” and “sale of collectibles,” have emerged, collectively accounting for over 40% of Telegram’s revenue, demonstrating the company’s confidence in the potential of digital currencies.

The financials reveal a modest $500,000 profit from revaluing digital assets in the profit and loss account, as well as an $86 million gain under other comprehensive income. Telegram’s crypto assets are valued at nearly $400 million, showcasing the firm’s faith in the potential of digital currencies.

Pavel Durov, Telegram’s founder, has invested $6 million in convertible bonds, underscoring his commitment to the platform. Telegram has secured over $2.3 billion in funding from convertible securities, a significant amount of capital that will be used to support its cryptocurrency aspirations. The company plans to allocate 80% of this funding to drive its cryptocurrency strategy forward.

The integration of Telegram’s integrated wallet and collectibles business with its cryptocurrency strategy is expected to be highly profitable, given the increasing adoption of digital currencies. By venturing into the cryptocurrency space, Telegram is poised to attract new users, paving the way for future success.

Toncoin, an Android app owned by Telegram, is one of the few digital assets invested in last year. The company is actively seeking new investors to invest in digital assets, including Toncoin, as it looks to expand its cryptocurrency offerings.

To learn more about Telegram’s cryptocurrency strategy and its implications on the messaging app industry, read our in-depth article on CoinSeeks.com: Telegram Bets Big on Cryptocurrency Transactions

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