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Telegram Merchants Benefit from In-App Cryptocurrency Payments for the First Time

Telegram messaging app merchants can now accept cryptocurrency payments as the service provider Wallet expands its reach and integrates cryptocurrencies into the robots they use for in-app payments, according to an email announcement sent on Thursday. Payments can now be made using Tether (USDT), Bitcoin (BTC), and Toncoin (TON) for goods and services.

The Wallet team stated in their statement to CoinDesk, “In the past, available merchant solutions were relatively primitive robots with links to cryptocurrency payment systems or related products. With WalletPay, merchants can now easily accept cryptocurrency payments within the Telegram app, with features such as the ability to make payments directly within conversations.”

Despite cryptocurrency services being available on Telegram for over a year, where they can be sent and received as easily as sending an instant message, they have not gained widespread adoption. According to the service provider, Wallet services are only used by two million out of over 700 million Telegram members.

The history of cryptocurrency on Telegram dates back to the years of developing the Telegram Open Network (TON) project. However, the company abandoned this development in 2020 due to legal battles with the U.S. Securities and Exchange Commission (SEC). TON has been kept alive by its community members, who call themselves the TON Foundation, and have continued to advance the project.

SourceCoinDesk

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