Telegram has launched a new feature to ensure that users who are crypto enthusiasts can transfer Tether (USDT) through chats swiftly. The latest development has attracted loads of positive comments on the internet.
In a tweet, the TON blockchain team wrote: “Imagine being able to buy and sell crypto via a messaging app. Now imagine it’s already here,” adding the link to the wallet.
The messaging platform has integrated Tether (USDT) into its @wallet bot, allowing users to send the stablecoin to friends along with the native TON coin, expanding its facility for buying and selling crypto, Kirill Malev, a Partner at First Stage Lab, announced to the TON community on Twitter.
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This new feature improves the experience of crypto users on the app; it provides greater convenience and accessibility for TON users, foregrounding the app’s growing commitment towards expansion and evolution within the crypto ecosystem.
Though the crypto space has been a victim of severe criticism in recent weeks, integrating crypto payments into messaging apps like Telegram can boost mainstream crypto adoption, which can skyrocket the market value in the long run.
Sending cryptocurrency quickly, in the same manner a message is forwarded to a lover on a messaging app, is staggeringly impressive. It’s the sort of improvement that enchants other positive developments.
Telegram’s crypto journey
Telegram began its cryptocurrency journey years ago by developing the Open Network (TON) blockchain project. Though the development hit a brick wall after Telegram got into a legal skirmish with the U.S. Securities and Exchange Commission (SEC), the project has been nurtured by members of its community who regard themselves as The TON Foundation.
Telegram’s addition of USDT is a game-changing and critical move for the entire crypto space. Because of this upgrade, Telegram users can select the USDT altcoin within their Telegram chat boxes to transfer money to their peers directly and instantly, CryptoNews revealed.
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Kirill Malev added that the wallet allows users to convert USDT TRC-20 tokens to purchase TON and that this is a boost for the crypto community at large.
“This is a great step forward for crypto adoption! This is not just a major milestone for the TON blockchain community but also a significant step in bridging the gap between cryptocurrency and mainstream users. Now we all can easily show how crypto works to our non-cryptonative friends.”
He also highlighted some opportunities available via this new feature launched by Telegram. These include shopping, crowdfunding, and new and different types of transactions.
Telegram users might triple after integrating Tether (USDT)
Telegram has been in a tense rivalry with WhatsApp since its inception. With roughly 700 million monthly active users, according to Demand Sage, Telegram should have one billion users by the end of the year. Telegram’s user base has been steadily growing since 2018. According to reports, its user count has risen by 175% since 2018. With an addition of 55.2 million daily active users as of this year,
On the other hand, Tether (USDT) is the world’s largest stablecoin per market capitalization ($78 billion) and the third among all cryptocurrencies, just behind Bitcoin (BTC) and Ethereum (ETH), respectively. By integrating USDT into its algorithm, there is a possibility that Telegram users will increase significantly.
In a recent statement, Durov hinted at Telegram’s potential plans to launch a blockchain-powered marketplace for usernames, emojis, and other app-based assets.
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