SafePal has launched a Mini Wallet App on Telegram, enabling nearly 950 million users of the messaging platform to create crypto-friendly Swiss bank accounts. This initiative follows the pre-launch announcement at the TON Gateway event. The new wallet, set to go live in November, allows users to open compliant bank accounts licensed by the Swiss Financial Market Supervisory Authority (FINMA) and offers transactions with a digital Visa card. Users must complete KYC checks to access their accounts, which are managed separately by the licensed fintech, Fiat24, ensuring decentralization and anonymity. The wallet's features include sending, receiving, depositing, and withdrawing both crypto and fiat currencies, along with plans to introduce a swap function for improved interoperability across over 100 blockchains. SafePal's expansion plans also include launching a digital Mastercard and increasing its presence in Europe and the Asia-Pacific region by late 2024. This move reflects the growing trend among crypto firms to leverage Telegram for onboarding users into the Web3 space.

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