Telegram adds crypto payments

Friday 29 April 2022 14:23 CET | News

The TON Foundation has announced a new bot for use within social app Telegram, enabling users to send and receive Toncoin to one another.

The cryptocurrency functionality has been added back into the social app Telegram following a more than two-year hiatus stemming from a lengthy bout with the SEC in 2019.

Users can now send and receive Toncoin, as well as make Bitcoin purchases via the app, according to a tweet by The Open Network (TON) Foundation.

The foundation is responsible for the development of the TON blockchain which enables the crypto infrastructure for use within the social app. The foundation had raised USD 1 billion in donations to further its development efforts.

Users are not required to pay transaction fees and will no longer need to enter long crypto addresses with wallet functionality embedded into the app. It marks the first time the app has restored crypto functionality since its battle with the SEC in October 2019. Telegram abandoned the project shortly after being requested by the securities regulator to cease the sale of its native 'Gram' tokens. 

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Keywords: cryptocurrency, online payments, mobile payments
Categories: DeFi & Crypto & Web3
Companies: Telegram
Countries: World
This article is part of category

DeFi & Crypto & Web3


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