Over 1 Million Telegram Users Sign Up on NEAR Protocol’s Self-Custodial Wallet in 10 Days

Over 1 million Telegram users have created wallets using HERE, the self-custodial wallet designed for the NEAR Protocol (NEAR), within a span of just 10 days.

In a recent note shared with Cryptonews.com, NEAR said users had already created 300,000 wallets within the first 48 hours of its launch.

The company claimed that the surge in user adoption has propelled HERE to become the fastest-growing Web3 app to date.

The HERE wallet allows Telegram users to easily set up blockchain-enabled wallets.

It leverages Telegram usernames as NEAR wallet addresses, eliminating the complexities typically associated with wallet setup.

Superapps Find Momentum

The integration of self-custodial wallets within widely used social media platforms like Telegram comes as the trend of Superapps and Everything Apps is gaining momentum.

For one, Telegram positioning itself as a leader by offering its vast user base of 800 million the seamless integration of crypto wallets within the social media platform.

By seamlessly merging the functionalities of traditional messaging apps with blockchain technology, users can engage with decentralized finance and digital assets more easily than ever before.

Likewise, Elon Musk aims to transform his social media platform X into an “everything app” that encompasses a wide range of functionalities beyond just social media updates.

As part of the plan, the billionaire aims to include features related to payments, banking, and much more to X, making it a central hub for unlimited interaction and possibilities.

Musk’s strategy is fueled by the idea of creating a universal marketplace for ideas, products, and services, all powered by artificial intelligence.

As Superapps and Everything Apps continue to shape the digital landscape, the ability to manage crypto assets within these platforms opens new opportunities for individuals seeking to explore and embrace the world of cryptocurrencies.

Kraken Seeks Info From UK Users Regarding Self-Custodial Wallet

Crypto exchange Kraken has mandated its UK users to verify their self-custodial wallets or validate their wallet identities, citing “regulations in the UK.”

An email shared by Van Straten outlines the details of Kraken’s request, which includes users being asked to confirm ownership or control of self-custodial wallets used for cryptocurrency transactions.

Additionally, users are required to provide information about external self-custodial wallets and the residential address associated with the owner of a crypto address.

Oh the UK is finished, surveillance state it is. pic.twitter.com/afIamE970S

— James Van Straten (@jvs_btc) February 13, 2024

Meanwhile, mainstream adoption of crypto wallets is continuing to grow.

Google Trends insights show there has been an increase in searches for ‘crypto wallet’ by more than a quarter (+27%) in the last year.