Wallet Allows Merchants to Accept Cryptocurrency Payments on Telegram
Wallet, a cryptocurrency services provider built on the TON blockchain, is expanding its offerings on messaging app Telegram. Merchants can now integrate cryptocurrency into their bots to accept payments within the app. This new feature, called WalletPay, enables seamless cryptocurrency transactions directly within chats, adding convenience for users.
Key Points:
- Wallet is built on The Open Network (TON) blockchain and already allows crypto transfers between users in chats.
- Merchants can now accept payments in tether (USDT), bitcoin (BTC), and toncoin (TON) using WalletPay.
- Previous DIY solutions for crypto payments on Telegram were limited and primitive.
- Only 2 million out of the 700 million Telegram members currently use Wallet services.
- Telegram’s cryptocurrency journey began with the development of the TON blockchain project, which faced legal battles with the SEC and was subsequently abandoned in 2020.
Despite the challenges, the TON community, known as The TON Foundation, has kept the project alive and continues to advance its development.
Hot Take:
Wallet’s integration of cryptocurrency payments within Telegram’s chat platform is a significant step towards mainstream adoption of digital currencies. By providing merchants with a seamless and convenient way to accept crypto payments, WalletPay addresses the limitations of previous solutions. While the current user adoption of Wallet services on Telegram is relatively low, the expansion of cryptocurrency functionality within the app could attract more users and encourage wider acceptance of digital currencies in everyday transactions.
By
By
By
By