Telegram is expanding its services in the cryptocurrency space by offering USDT (Tether) payment options for business owners and service providers to receive. This marks the second cryptocurrency offering from Telegram. Despite regulatory concerns leading to Telegram handing over their work to an independent foundation, they have not lost their enthusiasm for cryptocurrencies. Last year, Telegram allowed TON transfers through an integrated wallet bot and Bitcoin purchases through the same bot. Starting this week, Telegram users can send USDT to their friends within chats. To do so, users will need to identify their own wallets through the cryptocurrency wallet bot.
Telegram is the world’s second largest messaging application, with a 31% market share behind WhatsApp. Therefore, offering payment options on Telegram will engage businesses and users in more interactions. By adding USDT to the Wallet section of Telegram, users can now send USDT through chats.
Last April, Telegram added Bitcoin (BTC) and Toncoin (TON) to its Wallet section, and Toncoin could be sent within chats as well. This move is considered a highly positive development in terms of integrating cryptocurrency payments into messaging applications. Telegram’s goal is to make cryptocurrency transfers as easy as sending a text or photo. Offering the ability to send USDT on Telegram allows users to send any amount without volatility. This innovation is considered an important step towards widespread use of cryptocurrencies.