Telegram Now Allows Users to Send and Receive USDT Through Chats

The functionality allows users to buy USDT seamlessly with their bank cards or through the dedicated P2P market.

Telegram users can now send and receive TetherUSD (USDT) with each other through chats for free. The feature is made available through the Telegram Wallet bot, which allows users to buy, send, and receive digital assets. The development was disclosed today by Wallet News, a Telegram channel dedicated to providing updates on the Telegram Wallet.

A quick look into the Telegram Wallet bot shows that USDT support has already been integrated. Users can buy USDT seamlessly with their bank cards or through the dedicated P2P market without leaving the Telegram messaging application. An option to sell USDT on the market is also available.

“Sending USDT will be as easy as sending a photograph on Telegram,” the official announcement says. USDT now joins the two other assets already supported by the Wallet bot: Bitcoin (BTC) and The Open Network token (TON). The announcement reveals that USDT is only supported on the Tron network (TRC20).

The inclusion of USDT helps give Telegram users exposure to stablecoins which boast the numerous advantages of a typical crypto asset but without the volatility that comes with crypto investments. As such, investors who might have been discouraged by market volatility can now peacefully leverage the Telegram Wallet bot.

Paul Dirov and Nikolai Durov, the developers of Telegram, officially started The Open Network (TON) initiative in 2018 with a vision to make blockchain transactions as easy as sending and receiving messages. However, following issues with the U.S. Securities and Exchange Commission (SEC), Telegram abandoned the project.

A community of developers picked it up afterward and has since been expanding it. Shortly after, the TON Foundation was launched to oversee the project’s development. Following the launch of the wallet bot, adoption has skyrocketed. Accordingly, the Foundation has been persistently pushing upgrades to meet the growing demands of the community.

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The Foundation added the feature for sending and receiving cryptocurrencies in-app last April. Still, the functionality was limited to the TON token despite the Wallet bot’s support for BTC purchases.

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• Source: https://thecryptobasic.com/2023/03/22/telegram-now-allows-users-to-send-and-receive-usdt-through-chats/?utm_source=rss&utm_medium=rss&utm_campaign=telegram-now-allows-users-to-send-and-receive-usdt-through-chats