Telegram Adds Tether for Seamless Crypto Payments

Telegram, a famous messaging app, with a user base of 900 million, is planning to integrate mini-apps which will enable users to interact with a cryptocurrency without being even aware of the fact, given a seamless experience. These Graviton services also tie in with Tether’s USDT stablecoin with a US dollar peg, which allows for convenient transactions that are free from the intricacy cryptocurrency exchanges usually entail.

🔈 @Tether_to’s USDt now available on #TON!Making cross-border payments INSTANT, FREE, and as EASY as sending a text message for @telegram’s 900M users.TON Foundation offers 11M $TON in incentives 💸💎Check out this thread to learn more! 🧵⬇️ — TON 💎 (@ton_blockchain) April 19, 2024

Therefore, TON Blockchain benefits both app users and developers. They can easily connect their services to Telegram, online stores, paywalled content, games, and more using TON’s layer-1 structure as a foundation, as explained by Justin Hyun during an investment conference in Dubai.

The launch of TON mobile market integration for Telegram’s wallet is underway. With the addition of the Tether function, Telegram can enter the creator economy arena more easily as TON users no longer need to buy other digital currencies. The mini-payments feature in Telegram apps has fueled a rapidly expanding social game, and this seamless payment system is anticipated to significantly benefit the social gaming community.

In Telegram, this method includes no necessity for additional apps as demonstrated by the success of the Catizen game. After transferring to TON, the user base significantly expanded, reaching 2 million new members within just two months, in stark contrast to the 600,000 users on another blockchain throughout the previous year and a half.

Through adding USDT and circumventing payment gateway limitations, Telegram becomes a versatile option that can bypass restrictions set by tech giants such as Google and Apple. This addition aligns with the initial concept of TON, according to Hyun, CEO of Hedera, following the US Securities and Exchange Commission’s decision not to partake in TON’s ICO in 2020.

Read More

2024-04-20 00:24