Telegram integrates Tether (USDT) payments into the Tron network

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

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

• According to an update on March 22, USDT-TRON (TRC20) has been added to the wallet feature of the popular messaging app, thus expanding its payment capabilities to buy and sell cryptocurrencies.
• USDT is the third crypto asset to join Bitcoin and The Open Network token as assets backed by the bot Wallet (TON).
• The Telegram ad read,

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

• With the new integration, Telegram competes with other social media platforms, such as Twitter, which has already added support for suggestions on Bitcoin and Ethereum in 2021, in addition to its partnership with Stripe to add payment features through the USDC stablecoin.
• Telegram’s appointment with cryptocurrency dates back to 2018, when it launched the Telegram Open Network (TON), which was initially designed to be a Proof-of-Stake (PoS) blockchain platform with a native token for the purpose of generating payments in your chat. . The launch application, however, was not easy.
• The app’s founder and CEO, Pavel Durov, previously said he had to deal with numerous scammers and fake Twitter accounts.
• Telegram subsequently left the project just two years after the US Securities and Exchange Commission (SEC) deemed the initial coin offering illegal, forcing Telegram to walk away from the TON project and hand it over to the TON Foundation.
• Last November, DWF Labs announced its commitment to deploy $10 million to support the TON ecosystem.