TON blockchain’s Wallet has enabled in-app crypto payments for merchants on Telegram.
Merchants can now send and receive USDT, BTC, and TON on the messaging app.
Wallet’s existing crypto payment services for users on the app have attracted just 0.3% of its 700 million users.
TON’s Wallet payments solution initially integrated crypto payments in the app in April 2022.
Wallet, the crypto payment service built on The Open Network (TON) blockchain, has enabled in-app crypto payments for merchants on Telegram. The payment service is already integrated into the messaging app and will now allow merchant payments via multiple cryptocurrencies. The expansion to merchant crypto payments comes more than a year after the TON added crypto payments for users on the messaging app.
Less Than 0.3% of Telegram’s Users Utilized Wallet’s Crypto Payment Service
According to a report by CoinDesk, Wallet will allow merchants on Telegram to integrate crypto into its bots within chats in order to send and receive crypto payments. As of now, the payment service has enabled support for just three cryptocurrencies, Bitcoin (BTC), Tether USD (USDT), and toncoin (TON). No visible change was seen in the price of BTC following the announcement. Meanwhile, TON saw a short-lived rally of over 1.5% and was trading at $1.33 at press time.
In the past, DIY solutions have been available in the form of relatively primitive bots with links to cryptocurrency payment systems or similar products attached to them. With WalletPay, merchants can now seamlessly accept cryptocurrency payments within the Telegram app, with features available such as the ability to make payments directly within chats.”
TON’s Wallet payments solution initially enabled crypto payments in Telegram back in April 2022. Wallet opened the doors for in-app crypto payments for the app’s 550 million users at the time. Despite being active for more than a year, the crypto payment service has not attracted a lot of users. Wallet stated that just 2 million of Telegram’s over 700 million users (0.3%) were using the crypto payment feature.