Telegram, the popular messaging app, has announced the integration of tether (USDT) into its @wallet bot, making it the world’s largest stablecoin by market capitalization. This development is said to make the process of crypto payments on Telegram as simple as sending text or photos.
This move comes after the TON Foundation added crypto payments to Telegram last year to enable over 550 million users to send and receive toncoin. While only TON could be sent within the app, users could buy Bitcoin (BTC) through the “@wallet” bot. The addition of USDT increases users’ options to send and receive cryptocurrencies.
Telegram’s wallet bot allows users to manage their crypto holdings, send and receive transactions, view transaction history, and check balances. The integration of USDT could increase its adoption and expose it to a wider audience.
It is essential to note that the implementation of USDT on Telegram was not done overnight. The effort to launch Telegram Open Network (TON) has been ongoing. However, the project was abandoned by Telegram’s founder Pavel Durov due to the legal fight with the U.S. Securities and Exchange Commission (SEC).
With this integration, Telegram has beaten Twitter and Meta to become the first social media platform to add USDT. Telegram’s crypto capabilities have grown, making it a popular platform for crypto enthusiasts.