Telegram Integrates USDT, the World's Largest Stablecoin
by FARUK IMAMOVIC | VIEW 549
Telegram users are now able to send USDT, the world's leading stablecoin in terms of market capitalization, within the app's chat rooms, thanks to the integration of the cryptocurrency into the @wallet bot. This integration marks a significant development in Telegram's crypto service and expands the messaging app's capabilities to buy and sell crypto assets through its platform.
Making Crypto Transactions as Simple as Sending a Text
The integration of crypto payments in a messaging app like Telegram is designed to make sending cryptocurrency as simple as sending a text or photo. This move is part of Telegram's broader goal to simplify cryptocurrency transactions and accelerate mass adoption worldwide.
The addition of USDT to the @wallet bot is a step towards this goal, offering users the benefits of other cryptocurrencies while avoiding the price volatility that has attracted fans of Bitcoin and Ethereum. A stablecoin like USDT offers users the ability to keep their money safe in the crypto ecosystem without the risk of price changes, making it a vital component for those who want to minimize their exposure to risk.
Last April, Telegram added Bitcoin (BTC) and Toncoin (TON) to the @wallet bot, allowing users to send both cryptocurrencies within chat rooms. Toncoin, in particular, has gained attention for its use of a Proof of Stake (PoS) mechanism, which was established in 2017 for fast and efficient payments.
Telegram's Crypto Journey: From TON to Fragment
Telegram's journey in the crypto world began a few years ago with the development of the blockchain Open Network (TON) project. Despite facing legal challenges from the United States Securities and Exchange Commission (SEC), who accused Telegram of selling unregistered securities in its initial token offering (ICO), the TON project was kept alive by a community called the TON Foundation and has continued to evolve.
Telegram has remained interested in the network, setting an example by creating the Fragment auction blockchain platform over the past year. The integration of USDT into Telegram's @wallet bot is a significant development in the messaging app's crypto service and a step towards its goal of simplifying cryptocurrency transactions and accelerating mass adoption worldwide.
With the ability to send USDT within chat rooms, Telegram users can now enjoy the benefits of a stablecoin while avoiding the price volatility that has attracted fans of other cryptocurrencies.