Wirecard partner with TON Labs to develop digital financial services

Digital fintech firm Wirecard and ecosystem developer for the Telegram Open Network (TON) platform, TON Labs, have announced their collaborative plans to develop a joint digital financial services, payments and banking platform.

TON Labs provide technology in the development of scalable decentralised solutions and new generation technologies for payments, banking and other financial services.

The firm also offer a core blockchain infrastructure for projects to join, contribute and benefit from the Telegram Open Network platform.

“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 combination of Wirecard’s demonstrated extensive experience in developing new, innovative digital financial services for consumers and merchants worldwide over the past years and TON Labs’ cutting edge infrastructure solutions lays the foundation to nurture new joint products and services within TON’s and Telegram’s vast, globally growing ecosystem.

Alexander Filatov, Managing Partner at TON Labs said:“The addition of TON Blockchain to Telegram’s growing ecosystem is opening new opportunities for business and technological innovation.

“We are excited to partner with one of the world’s most dynamic and innovative financial technology companies to bring synergetic new generation fintech solutions to the market.”

Details of products that the two entities will work on remain undisclosed; Wirecard said that future announcements will be released to the market in stages.

Earlier this year, the German fintech released a new mobile wallet in cooperation with Turkish footballing giant Beşiktaş JK.