USDT has been added to the @wallet bot on Telegram, improving the messaging app’s crypto-trading capabilities.
Within Telegram conversations, users may transfer tether (USDT), the biggest stablecoin by market capitalization, to one another.
According to an email message shared with CoinDesk on Wednesday, USDT has been added to Telegram’s @wallet bot, broadening the messaging app’s crypto buying and selling capabilities.
Integrating crypto payments into messaging applications such as Telegram, which would theoretically make transferring crypto as simple as sending a text message or a picture, should be an immensely beneficial move for mass adoption.
Bitcoin (BTC) and toncoin (TON) were introduced to @wallet’s marketplace in April, with toncoin being accessible for sending inside conversations.
Stablecoins, such as USDT, provide many of the same benefits as other cryptocurrencies but without the price volatility that often affects cryptocurrencies such as bitcoin and ether. Therefore, they are a crucial component for consumers who seek to maintain their funds in the crypto ecosystem without exposing them to extreme price fluctuations.
Therefore, integrating USDT might be a significant step for Telegram’s cryptocurrency service. The creation of the Open Network (TON) blockchain project began the messaging app’s entry into cryptocurrencies some years ago. Due to legal conflicts with the U.S. Securities and Exchange Commission, this project was abandoned in 2020.
However, members of the TON community, who name themselves The TON Foundation, have kept the project alive and advanced it.
Telegram is interested in the TON network, as it built its blockchain-based auction site Fragment on it late last year.
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