Nigeria and Egypt post highest Telegram adoption

The CEO of Bitget, an exchange and wallet provider, Gracy Chen, claims that Telegram’s crypto trading capabilities and its mutually beneficial partnership with the independent Open Network set it apart from other apps, for explosive growth.

Telegram and the decentralized Open Network have the potential to transform the messaging app into a comprehensive tool that incorporates social media, payments, financial, entertainment, gaming, and communication features.

Telegram has raised more than $4 billion and has about 950 million monthly active users, DemandSage reported that since its launch,

Nigeria and Egypt have the highest Telegram adoption rates, Chen claims.  ‘More than 54% of Nigerian adults aged 16 to 64 were Telegram users.’

According to Chen, Egypt lagged behind Nigeria by a narrow margin at 53 percent penetration. The CEO of Bitget also cited Telegram’s phenomenal rise in emerging market economies, particularly among young Africans, as evidence of the app’s potential to develop into a multifunctional tool used by billions.

A report released last month by cryptocurrency trading company and liquidity provider GSR, the Open Network has the potential to accelerate the broad adoption of cryptocurrencies and decentralized finance. According to GSR researchers, the relationship between the Open Network and the Telegram messaging app provides a powerful means of introducing the public to the ecosystem of digital assets.