Telegram's new feature, "Wallet", lets users and businesses use crypto payments within the app.
Telegram, a messaging app, now allows users to make cryptocurrency payments inside the app using a service called Wallet. Wallet was made using a system called The Open Network (TON) blockchain. At first, Wallet let users send cryptocurrency to each other in chats. Now, it also lets businesses use bots to accept cryptocurrency payments.
WalletPay supports USDT (tether) and TON (toncoin) for buying goods and services. This new feature makes the checkout process easier and more convenient for both businesses and users.
Telegram started working with cryptocurrency when they created the TON blockchain project. They had to stop the project in 2020 because of legal problems, but some people kept TON alive under the TON Foundation.
Users can try Wallet Pay's public beta through the Wallet Pay bot or sign up as a business on its website. More updates about the system are expected soon.
TON was made in 2018 by the founders of Telegram Messenger, and then given to the TON community to continue working on it. Last month, the TON Foundation suggested a new system for TON that would burn 50% of transaction fees.
