Telegram Users Can Now Transfer USDT On Chats

Telegram Users Can Now Transfer USDT On Chats

Telegram users can now transfer the leading stablecoin, tether (USDT), using the chat messenger. The new option expands the list of cryptocurrencies available for purchase, sale, and trade in the messaging app.

Telegram Messenger Wallet Bot Adds Tether

The largest stablecoin, the US dollar-pegged tether, has been added to the Telegram messaging service, the most popular messaging app in the crypto space.

USDT has been integrated into the Telegram Wallet bot, allowing users to buy, sell, exchange, and transfer tether free of charge among themselves.

"We’re excited to announce the long-awaited integration of USDT into @wallet, making sending stablecoins as easy as sharing a photo," the wallet service said in a Telegram post.

Tether balance can be replenished through the bot’s main menu, using an external USDT wallet, and also by purchasing the stablecoin with a bank card or on Telegram’s peer-to-peer (P2P) market. The announcement noted that @wallet only accepts transfers from the TRC-20 network.

The wallet’s interface has been updated. All crypto assets can be seen on the start page, and users can choose the coins they want to be displayed from ‘Settings’. Purchase options are available in the ‘Market’ section.

The messenger’s P2P marketplace has been refreshed as well for users to buy and sell stablecoins directly in the bot by selecting one of the available offers. An ‘Exchange’ feature appears on the main page for trading USDT and TON.

Toncoin (TON), which can also be sent in chats, and bitcoin (BTC), the crypto with the largest market cap, were added to the unofficial @wallet bot in April 2022. 

The Telegram Open Network (TON)

The Telegram Open Network (TON) blockchain was launched in 2018. However, in 2020, Telegram decided to withdraw from the project due to litigation with the US Securities and Exchange Commission (SEC).

Support for the TON network was provided by members of the TON Foundation community who continued its development, RBC Crypto noted in a report.

Telegram is not directly engaged with the expansion of the TON ecosystem. The messenger launched a blockchain platform called Fragment for the purchase and sale of collectible usernames with toncoin.

What is your take on other cryptocurrencies being added to the @wallet Telegram bot? Please post your comments.