Tether’s USDT receives major boost from Telegram

The Telegram messaging app facilitates buying and selling of crypto through its @wallet bot.
Telegram users can buy and sell BTC on the app’s wallet.
Besides, they can also send some of the cryptocurrencies via chats.

Tether’s USDT has been added to Telegram’s @wallet bot and the app’s users can now send and receive USDT via chats.

The move expands Telegram’s list of allowed cryptocurrencies on the @wallet bot.

Telegram’s cryptocurrency journey

Telegram’s crypto journey goes back years back when the messaging app started developing the Open Network (TON) blockchain network that initially harboured the Toncoin (TON) token although the project was later abandoned in 2020 after legal battles with the US Securities and Exchange Commission (SEC).

Telegram however kept the TON project alive despite abandoning the Open Network. Members of the Telegram community called The TON Foundation have since continued to advance the TON project.

And although Telegram is not directly involved in TON, it still maintains an interest in the blockchain network, especially seeing that the messaging app last year announced it was building a blockchain-based auction platform called Fragment.

Cryptocurrencies allowed on @wallet bot

Last year (2022), Telegram added Bitcoin (BTC) and Toncoin (TON) to the @wallet bot. In addition to addition, Telegram users are allowed users to send Toncoin (TON) within chats.

Today, March 22, 2023, Telegram has added Tether’s USDT to the list of cryptocurrencies allowed on the @wallet bot marketplace. The stablecoin has also been added to the list of tokens that can be sent within Telegram’s chats.

Stablecoins like USDT offers a number of benefits since they are relatively immune to price volatility that often affects the likes of bitcoin and Ethereum. Including USDT in the @wallet bot, therefore, presents a lot of benefits for Telegram users involved in cryptocurrencies.