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Telegram Adds Crypto to Messaging App, Opening Path to Payments (Updated)

Telegram took step one towards including crypto funds by permitting its 550 million customers to ship and obtain toncoin throughout the messaging app, in response to a Tuesday tweet.

  • While solely toncoin (TON) might be despatched throughout the app, customers also can purchase bitcoin via the “@pockets” bot.
  • The intention is to make sending toncoin “really feel like sending a textual content message,” the TON Foundation, the steward of the cryptocurrency challenge, mentioned Thursday. The bot has been utilized by 800,000 Telegram accounts already, it mentioned.
  • “We anticipate that this performance will prolong into client to enterprise funds, so that folks can simply purchase items and companies by sending toncoin through bots within the Telegram app,” the muse mentioned.
  • Twitter provides an analogous facility, having added bitcoin funds over the Lightning Network for its Tips function in September, which depends on third-party funds companies like Jack Mallers’ Strike app. Last week funds large Stripe mentioned it’s going to use Ethereum scaler Polygon to allow clients to pay in crypto, with Twitter the primary firm to attempt it out.
  • The TON crypto challenge was deserted by Telegram in August 2020 following a lawsuit from the U.S. Securities and Exchange Commission (SEC).
  • The basis not too long ago raised $1 billion value of TON from its customers to advance its ecosystem.

Read extra: Telegram CEO Endorses TON Blockchain Spin-Off Toncoin

UPD:

“Telegram had to abandon TON in 2020 and no longer has any connections to the project.

Toncoin is developed by TON Foundation, an independent community of developers that is using the open-source technology we originally developed.

Any developer can create a bot like @wallet using Telegram’s open platform, this is not an official integration.” – Reported by the Telegram press service.

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