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The partnership brings leveraged derivatives to one of crypto’s largest consumer distribution channels, targeting emerging-market users priced out of traditional brokerages.<\/p>\n
Wallet in Telegram has launched perpetual futures trading through a new integration with Lighter, the Ethereum-based decentralized exchange (DEX), the teams announced<\/a> Thursday.<\/p>\n The feature enables users to open long and short positions on more than 50 assets \u2014 spanning crypto, metals, equities, oil, and ETFs \u2014 with up to 50x leverage and a minimum position size of $1, all without leaving the Telegram app.<\/p>\n The Open Platform<\/a> (TOP), the entity that develops Wallet in Telegram, told Forbes<\/a> that it evaluated multiple decentralized perpetual exchanges before selecting Lighter, with the decision driven by cost structure, incentive design, and alignment with a retail-heavy audience. Lighter’s zero-fee model for standard accounts was a key factor.<\/p>\n Rather than competing for power users on standalone exchanges, Wallet is targeting a broader audience that may not have previously used derivatives platforms. The wallet has more than 150 million registered users<\/a>, many of whom were onboarded through earlier gamified mini-app features on Telegram.<\/p>\n Users in the United States and the United Kingdom are excluded from the rollout. The initial focus is on emerging markets where traditional brokerage infrastructure is more limited.<\/p>\n The deal represents a significant distribution channel for Lighter, which has become one of the top perp DEXs by volume since launching its public mainnet in late 2025.<\/p>\n Lighter processed $59 billion in perpetual volume in March 2026, ranking fourth among perp DEXs, according to DefiLlama. That\u2019s down nearly 80% from its peak of $292 billion in November.<\/p>\n The platform runs on a custom zero-knowledge rollup on Ethereum, where every order match and liquidation is cryptographically verified onchain. It raised $68 million<\/a> in November 2025 from Founders Fund, Ribbit Capital, Haun Ventures, and Robinhood. Since then, Lighter has expanded into spot trading<\/a>, launched its LIT token<\/a>, and introduced equity perpetuals<\/a>.<\/p>\n Still, the exchange trails category leader Hyperliquid, which processed nearly $210 billion in March, by a wide margin. <\/p>\nLighter Struggles Post-TGE<\/h2>\n