Telegram Wallet Bot enables users to send crypto in-app via revived blockchain project

Telegram has 550+ million active users on Telegram every month. 

Telegram Wallet Bot enables users to send crypto in-app via revived blockchain project

Telegram app has rolled out crypto payments via Toncoin (TON)

To access the feature. Users first need to opt in via Telegram's official wallet Bot, which allows them to purchase cryptocurrency by bank card, exchange, and transfer to other wallets. According to the company, they can send Bitcoin (BTC) or Toncoin to other users by clicking on the "Wallet" icon in a direct message

Ton stands for the Open Network and was created by Telegram in 2017 for decentralized services like decentralized storage anonymous network, NDS, instant payments, and others using a proof-of-stake mechanism. Telegram abandoned TON in May 2020, following a lengthy battle with the United States Securities and Exchange Commission.

The decision came as the SEC alleged that the company sold unregistered securities to the public through its initial coin offering. To complicate the matter, a New York judge had previously ruled that the company could not distribute Grams, a token likened to TON from the then-Telegram Open Network to investor outside of the United States.

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