Telegram to allow users to send USDT via chats

SNEAK PEEK

• Telegram users can now transfer USDT within chats via the app’s built-in wallets. 
• The move is a major development in the digital currencies’ space, as users can now purchase and receive payments without leaving the application.
• The new feature will increase the adoption of digital currencies by making them even accessible to a wider audience base.

From now on, Telegram users can send each other USDT or tether in chats within the app. USDT has been added into the @wallet bot of the app to grow Telegram’s facility for both the purchase and sale of crypto. 

Incorporating crypto payments into applications such as Telegram is definitely a positive development for mainstream adoption. 

Users need to open the chat with the individual they wish to send money to. To do so, they must click the “Paper Clip” icon, followed by selecting “Send Money.” The next step is entering the amount to be sent, selecting the USDT wallet, and confirming the transaction.

When USDT is sent to a user, they will get a notification that will ask them to accept or decline the transfer. The USDT will be added to their USDT wallet if they accept. 

In April 2022, Bitcoin and toncoin were added to @wallet’s marketplace. Moreover, toncoin can be sent within chats too. 

The move is extremely helpful for users, as they need not enter long wallet addresses and wait for confirmations. 

Stablecoins such as USDT provide ample perks like other cryptos; however, without the price volatility that usually attacks bitcoin and ether. Hence, they are important for users who are keen to keep their funds in the crypto space without risking them being on the receiving end of any major changes in value. 

USDT’s addition can prove to be a crucial development for the crypto service of Telegram. 

Telegram’s crypto journey goes back to certain years of the Open Network blockchain project’s development. In 2020, the development was abandoned due to legal matters with the U.S. Securities and Exchange Commission.

Members of the community, the TON Foundation, kept TON alive and have consistently advanced the project. 

Telegram isn’t directly involved in TON but has its interest intact in the network, which is clear from its decision to create its blockchain-dependent auction platform, Fragment. 

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• Source: https://investorbites.com/telegram-to-allow-users-to-send-usdt-via-chats/