In an intriguing move to revolutionize the realm of decentralized finance, Affluent has announced its ambitious plans to transform the popular messaging platform Telegram into a financial super app. The announcement, made on June 16, 2025, marks a pivotal moment as Affluent seeks to integrate diverse financial services into Telegram, making it a one-stop hub for decentralized finance (DeFi) enthusiasts.
A New Frontier for DeFi
Affluent, leveraging the TON-based protocol, aims to embed its services directly into Telegram through a mini app. Co-founder Justin Hyun, previously the director of the TON Foundation, envisions this integration as a “smart bank for crypto.” Hyun, alongside his colleague Hyung Lee from B-Harvest, believes that by offering lending pools and yield strategies, Affluent can cater to both retail users and institutional investors.
“DeFi adoption has been stymied by complex user experiences,” Hyun noted in the announcement. “Our goal is to simplify access, making financial services as easy to use as sending a message on Telegram.” This initiative mirrors efforts by other platforms to make DeFi more accessible, such as Coinbase’s recent move to unlock DeFi opportunities for XRP and Dogecoin holders.
The Super App Vision
The concept of a super app isn’t unprecedented. In fact, Tencent’s WeChat has set the benchmark by offering a plethora of services, from instant messaging to digital payments. Affluent aims to emulate this model, integrating crypto-based financial services seamlessly within Telegram. This strategic move comes as more users seek streamlined solutions in the ever-evolving digital finance landscape.
Hyun and Lee are betting on Telegram’s vast user base to drive DeFi adoption. By embedding financial tools within an app already familiar to millions, they hope to overcome the user experience hurdles that have previously hindered widespread acceptance of decentralized finance.
Historical Context and Future Implications
Telegram and the TON Foundation have a storied history. Originally developed by Telegram, the TON blockchain was abandoned in 2020, only to be picked up by the Foundation, which has since nurtured its growth. Telegram’s recent endorsement of TON as its Web3 infrastructure of choice has further solidified the blockchain’s relevance. This alignment with Affluent’s objectives could catalyze the next wave of innovation in DeFi.
The timing of this announcement coincides with a broader trend of messaging platforms integrating additional services. As users increasingly demand multifunctional applications, the industry’s focus has shifted towards creating ecosystems that offer more than just communication. This trend is also reflected in regulatory discussions, as Europe prepares to regulate DeFi in 2026, highlighting the sector’s growing significance.
Challenges and Opportunities
Despite the promise, the road ahead for Affluent and Telegram is not without challenges. Skeptics have raised concerns about security and regulatory compliance, especially given the volatile nature of the cryptocurrency market. Moreover, the integration of financial services within a messaging app raises questions about data privacy and user protection.
Yet, the potential rewards are significant. As Hyun puts it, “If we can make DeFi as intuitive as chatting with friends, we can open up a world of financial opportunities to everyday users.”
Looking Ahead
As Affluent embarks on this ambitious journey, the cryptocurrency community will be watching closely. The success of this initiative could redefine how users interact with financial services, potentially setting a new standard for DeFi integration. However, whether this trend will gain traction remains an open question, contingent on overcoming the inherent challenges.
In the coming months, as Affluent begins its rollout, the market will be keen to see if Telegram can indeed become the WeChat of the crypto world. As the lines between communication and finance blur, one thing is certain: the future of decentralized finance is poised for transformation.
Source
This article is based on: TON-Based Protocol Affluent Wants to Make Telegram a Financial Super App
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
