In a major development for the local digital currency landscape, Wallet, the prominent cryptocurrency platform integrated within the Telegram messaging app, has announced it will officially terminate all Peer-to-Peer (P2P) trading services involving the Ethiopian Birr (ETB). The suspension is scheduled to take effect on June 2, 2026 (Ginbot 25, 2018 E.C.), marking a significant shift for thousands of local crypto enthusiasts who rely on the chat application for seamless asset exchanging.
According to an official statement released by the platform, the drastic decision was prompted by the need to align its operations with Ethiopia’s evolving financial laws and regulatory frameworks. Following the fast-approaching deadline, all active P2P advertisements denominated in ETB will be automatically deleted from the interface. Furthermore, users will be completely restricted from posting any new buy or sell advertisements involving the local currency, effectively freezing the platform’s fiat-to-crypto gateway in the country.
To ensure minimal disruption for active traders, Wallet clarified that any P2P transactions initiated prior to the June 2 deadline will be allowed to proceed and conclude under the standard operating procedures. This grace period aims to protect user funds that are currently locked in escrow. However, the platform urges its user base to finalize pending deals promptly, as the interface will no longer support local currency matching once the restriction goes live next week.
This move by Telegram’s Wallet follows a broader trend of major international cryptocurrency exchanges exiting the Ethiopian peer-to-peer market. Over the past couple of years, global trading giants including Binance, Bybit, OKX, and Bitget have similarly phased out support for the Ethiopian Birr due to mounting compliance pressures. The departure of Telegram Wallet represents the loss of one of the most accessible and widely utilized informal channels for retail crypto trading in the East African nation.
Meanwhile, the National Bank of Ethiopia (NBE) continues to maintain a strict stance on unauthorized digital currencies while working toward an official regulatory system. The central bank recently reiterated that it is actively consulting with international regulatory peers and domestic stakeholders to design a comprehensive, secure, and orderly regulatory framework for digital financial assets. Until this legal structure is finalized, peer-to-peer trading in local currency remains highly restricted across global platforms.