As told via a Twitter post on Tuesday, the instant messaging app Telegram has rolled out crypto payments via Ton Token.
To access the feature, users must first download and install Telegram’s official Wallet bot, which allows them to purchase cryptocurrencies with bank cards, exchange and transfer to other wallets. According to the company, they can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages.
You can now send #Toncoin directly in Telegram chats!
It’s a new way to send Toncoin without transaction fees to any Telegram user. With this service, you no longer have to enter long wallet addresses and wait for confirmations.
Watch the video and test the new feature! pic.twitter.com/EtXSMFtJj6
– TON (@ton_blockchain) April 26, 2022
Ton stands for Telegram Open Network and was created by the company of the same name in 2017 for decentralized services such as decentralized storage, anonymous networks, DNS, instant payments and others using a proof-of-stake mechanism. Cointelegraph previously reported that Telegram left Ton in May 2020 after a lengthy battle with the US Securities and Exchange Commission.
The decision came when the SEC claimed that the company was selling unregistered securities to the public through its initial coin offerings. To complicate matters, a New York judge had previously ruled that the company could not distribute Grams, a symbol comparable to Ton, to investors outside the United States.
Shortly after Telegram developers made their exit, crypto enthusiasts from around the world quickly took over the reins and launched the free Ton network with its own mainnet, based on Ton technology.