The popular messaging app Telegram has expanded its crypto services by integrating USDT, the world’s largest stablecoin by market cap, into its @wallet bot. This new addition allows Telegram users to send and receive USDT within their chats, offering a convenient and easy-to-use way to trade cryptocurrencies.
Last year, Telegram added Bitcoin (BTC) and TONcoin (TON) to its marketplace, with TONcoin also available to send within chats. With the integration of USDT, Telegram’s cryptocurrency service has become more versatile, providing a stablecoin option for users who wish to avoid the price volatility associated with other cryptocurrencies like Bitcoin and Ether.
Integration of crypto payments into messaging apps like Telegram can accelerate adoption of cryptocurrencies
The integration of USDT into Telegram’s messaging app is also a significant step towards the mainstream adoption of cryptocurrencies. By making it as easy as sending a text message or photograph, integrating crypto payments into messaging apps like Telegram can make crypto more accessible to a broader audience. This could accelerate the adoption of cryptocurrencies, making them more widely accepted as a means of payment.
Telegram’s crypto journey began several years ago with the development of the Open Network (TON) blockchain project. However, this project was abandoned in 2020 due to legal disputes with the U.S. Securities and Exchange Commission (SEC). Nonetheless, members of the community who call themselves The TON Foundation continued to develop and advance the project.
Despite not being directly involved in TON, Telegram maintains an interest in the network. In late 2022, it built its blockchain-based auction platform Fragment atop the TON blockchain. With the integration of USDT, Telegram’s cryptocurrency services have become more comprehensive, offering its users a range of crypto options.
In conclusion, adding USDT to Telegram’s @wallet bot represents a significant step forward for the app’s cryptocurrency services. It provides users with a stablecoin option and expands the app’s functionality, making it easier for users to trade cryptocurrencies. Integrating crypto payments into messaging apps like Telegram could also help accelerate the adoption of cryptocurrencies and make them more accessible to a broader audience.