Telegram Integrates Tether (USDT) Payments on Tron Network

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Telegram has added a new fea­ture enabling users to send each oth­er the world’s largest sta­ble­coin, teth­er (USDT).

USDT runs on sev­er­al blockchains, but for now, Telegram has added sup­port for the sta­ble­coin only on Tron.

  • Accord­ing to an update on March 22nd, USDT-TRON – TRC20 – has been added to the pop­u­lar mes­sag­ing app’s wal­let func­tion, there­by expand­ing its pay­ment capa­bil­i­ties for buy­ing and sell­ing crypto.
  • USDT is the third cryp­to-asset join­ing Bit­coin and The Open Net­work token as assets sup­port­ed by the Wal­let bot (TON).
  • Telegram’s announce­ment read,

“You can now buy, swap, and make P2P trades with Teth­er USDT (TRC20). You can also direct­ly send USDT to your friends with no trans­ac­tion fees.”

  • With the new inte­gra­tion, Telegram is com­pet­ing against oth­er social media plat­forms, such as Twit­ter, which already added sup­port for tips in Bit­coin and Ethereum in 2021, in addi­tion to its part­ner­ship with Stripe to add pay­ment fea­tures via the USDC stablecoin.
  • Telegram’s tryst with cryp­to dates back to 2018, when it launched its Telegram Open Net­work (TON), which was ini­tial­ly designed to be a proof-of-stake (PoS) blockchain plat­form with a native token with the aim to gen­er­ate pay­ments on its chat app. The launch, how­ev­er, was not smooth.
  • The app founder and CEO of the app – Pavel Durov – pre­vi­ous­ly said he had to face numer­ous scam­mers and fake accounts on Twitter.
  • Sub­se­quent­ly, the project was aban­doned by Telegram just two years lat­er after the Unit­ed States Secu­ri­ties and Exchange Com­mis­sion (SEC) deemed the ini­tial coin offer­ing ille­gal, which forced Telegram to step away from the TON project and hand it over to the TON Foundation.
  • Last Novem­ber, DWF Labs announced a com­mit­ment to deploy $10 mil­lion to sup­port the TON ecosystem.
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