Telegram is rapidly expanding beyond communications to include social media, commerce, banking, games, and entertainment. Bitget CEO Gracy Chen believes Telegram’s relationship to The Open Network—a decentralized ecosystem that allows crypto transactions and decentralized finance (DeFi) applications—is a significant element driving its growth. She feels that this connection gives Telegram a competitive advantage over other social media apps and has the potential to attract a global user base looking for an all-in-one solution.
With around 950 million active users, Telegram has already gained widespread acceptance, especially in emerging areas. Chen emphasizes the app’s attractiveness to younger consumers in countries such as Africa, where limited digital options make its features particularly popular. In Nigeria, for example, more than half of persons aged 16 to 64 use Telegram, while Egypt has equally high adoption rates. This popularity is due in part to interactive elements such as mini-games, which have helped engage users—though Chen warns that long-term growth may rely on Telegram’s core functionality rather than gaming.
Telegram stands apart from other social networks due to its incorporation of crypto trading tools. According to Chen, this crypto capability has helped Telegram distinguish itself in the crowded chat software market by allowing users to engage in crypto trading and use DeFi services directly. Bitget has expanded its partnership with The Open Network in order to capitalize on Telegram’s rising user base and provide access to decentralized finance.
Analysts predict a bright future for Telegram, which hopes to become a “super app” similar to WeChat. Telegram, by combining social networking with financial capabilities, has the potential to provide an accessible entry point for mass cryptocurrency adoption. This move not only increases its appeal to current users, but it also positions it as a major player in the digital banking field, with the ability to alter how people connect, transact, and engage with digital assets around the world.
In addition to its present capabilities, Curve Finance’s engagement with The Open Network foreshadows future advances in DeFi integration. As Telegram evolves, its role as a super app has the potential to change the digital world, making it an effective tool for global social and financial engagement.
