Telegram’s TON Labs teams up with Wirecard to develop financial services platform

Telegram’s TON Labs and German payment company Wirecard are partnering to develop a joint platform for digital financial services, payments and banking, according to a press release.

TON Labs has been working on a decentralised platform for Telegram called Telegram Open Network (TON) which has reportedly gone into beta testing. TON says it can hence provide Wirecard with the blockchain infrastructure and experience needed to create a scalable decentralised solution, as well as its user base. 

"We are excited to be partnering with TON Labs. Their immense experience in highly scalable technology and decentralized solutions as well as the strong global growth of Telegram messenger will be instrumental for the success of our joint program," said Georg von Waldenfels, Executive Vice President, Group Business Development at Wirecard.

"The addition of TON Blockchain to Telegram's growing ecosystem is opening new opportunities for business and technological innovation," TON Labs' Managing Partner Alexander Filatov noted.