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Cyprus Ship Registry Achieves 14% Growth In 2024

Deputy Minister of Shipping Marina Hadjimanolis reported that the Cyprus ship registry had grown 14% since September 2023 during a discussion of the Ministry’s 2025 budget at the Finance Committee of the House of Representatives. She described this milestone as a testament to the effectiveness of the Ministry’s strategic initiatives.

Since September 2023, 161 vessels, with a combined capacity exceeding 4 million tons, have been registered under the Cyprus flag. Hadjimanolis attributed this success to targeted outreach to new markets in Asia and the Americas, addressing challenges posed by Turkey’s embargo on Cypriot-flagged ships.

The Deputy Ministry’s proposed budget for 2025 includes €18.5 million in expenditures, with 55% allocated to advancing its primary strategic goals. Among the most significant investments is the €5.5 million subsidy for the Limassol-Piraeus ferry service, which will continue operations for three more years.

These results highlight Cyprus’ growing reputation as a key player in global maritime trade, focusing on expanding market opportunities and sustaining vital shipping links.

Telegram Expands U.S. Access To Ton Crypto Wallet

Integrating Crypto Within A Trusted Platform

Telegram has taken a significant step by launching its TON crypto wallet for 87 million U.S. users. Built on the TON blockchain, this integrated wallet is designed to simplify the onramp for new crypto enthusiasts directly within the familiar Telegram app.

Overcoming Regulatory Barriers

Since 2023, international users have enjoyed access to Telegram’s self-custodial crypto wallet. However, U.S. users were previously restricted due to regulatory uncertainties. With the current expansion, Telegram addresses these challenges, underscoring its commitment to broadening access to digital finance.

Market Impact And User Adoption

Telegram’s strategy mirrors broader trends in fintech, where ease of use and seamless integration have become key drivers of adoption. Over 100 million global users activated their wallets last year, representing about 10% of Telegram’s total active user base. Additionally, public data indicates that approximately 334,000 transactions occur daily on the TON blockchain, highlighting a vibrant ecosystem.

Strategic Significance For The Crypto Industry

By embedding a crypto wallet directly into its application, Telegram not only boosts user engagement but also sets a benchmark for how established platforms can innovate in the digital currency space. This strategy could serve as a model for other tech giants, reinforcing the value of combining secure, user-friendly digital financial solutions with large, active communities.

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