Telegram users may now freely send and receive Tron blockchain-built (TRC-20) TetherUSD (USDT) stablecoins over conversations. The service is accessible via the TON Foundation´s @wallet bot, which enables users to purchase, send, and receive digital assets. It should be noted that this wallet is not an official Telegram integration, it is an application created by the TON team and any developer can create their own Bot using Telegram APIs.
The feature was announced on March 22 by Wallet News, a Telegram group devoted to sharing updates on the crypto wallet integrated to Telegram.
Users can buy USDT using a bank card or a special peer-to-peer (P2P) market without ever leaving the Telegram messaging app. There is also the possibility of selling USDT on the market.
Regarding P2P, users may choose an ad or create a new one within the bot to quickly and securely purchase and sell USDT.
New Features
According to a tweet from the TON Foundation in April 2022, it added a feature for cryptocurrency payments. The TON token may be used to make cryptocurrency payments on the messaging app.
However, even though the Open Network (TON) blockchain project’s development was stopped in 2020 as a result of legal disputes with the U.S. Securities and Exchange Commission (SEC), members of its community going by the name of The TON Foundation have kept it going and maintained its advancement.
Introducing cryptocurrency payments into messaging applications like Telegram—making moving funds as simple as sending a text or a picture—would be a huge step towards widespread crypto adoption.
This exposes Telegram users to stablecoins, which have many of the advantages of a regular cryptocurrency asset but without the volatility associated with crypto investing. Meanwhile, data shows that USDT is the world’s largest stablecoin and the third-largest cryptocurrency in terms of market value, trailing only Bitcoin (BTC) and Ethereum (ETH).
The introduction of these stablecoins has reduced the hurdles to entry into the crypto ecosystem for beginners. Many use cases for stablecoins already exist, including making remittances, purchasing products and services, and keeping them in wallets to safeguard against sudden fluctuations.
Investors may now utilize the Wallet bot in peace if they’ve been put off by market volatility and the complexities associated with using native digital wallets.
