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Telegram Now Allows You To Send Crypto Payments To Other Users

IANS

Last Updated: May 01, 2022, 12:46 IST

Telegram users can send crypto to other users

Telegram users can send crypto to other users

Telegram continues to add new features that make it different from the other messaging apps that you have in the market.

After the encrypted messaging app Telegram previously gave up on its own token, it now supports crypto payments. According to Protocol, the addition could make crypto payments on messaging platforms more mainstream.

The TON Foundation, which manages the toncoin token, has enabled fee-free payments, sending crypto to other users, using toncoin (TON) in the app. It also has added the ability to buy bitcoin within the app.

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Telegram, which has about 550 million users, previously dropped its plan for its own token after a legal challenge from theAUS Securities and Exchange Commission (SEC).

The SEC sued Telegram in 2019 after it raised $1.7 billion to develop its token, calling it an illegal token offering.

Telegram later paid a fine to the SEC and agree to return capital to investors.

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Since then, Telegram’s CEO Pavel Durov has endorsed a separate spin-off token Toncoin that is apparently independent from Telegram. That is the coin that is now enabled for payments on Telegram, the report said.

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The TON Foundation said it has enabled the ability to send Toncoin “without transaction fees to any Telegram user", it announced on Twitter.

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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
first published:May 01, 2022, 12:46 IST
last updated:May 01, 2022, 12:46 IST
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