Telegram Merchants Can Now Accept In-App Crypto Payments

Telegram Merchants Can Now Accept In-App Crypto Payments

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Merchants using the messaging app Telegram can now accept cryptocurrency payments, thanks to the expansion of services by Wallet, a provider that previously focused on chat-centric payments. Wallet, which operates on The Open Network (TON) blockchain, has been facilitating crypto transfers between users in chats. The new development allows merchants to incorporate cryptocurrency into the bots they use for accepting payments.

The system supports payment for goods and services using tether (USDT) and toncoin (TON). Previously, merchants had access to DIY solutions, which were relatively basic bots linked to cryptocurrency payment systems or similar products. With WalletPay, merchants can now accept cryptocurrency payments seamlessly within the Telegram app, including the ability to process payments directly within chats.

Despite the introduction of crypto services within Telegram over a year ago, adoption has not been widespread. Only 2 million of the over 700 million Telegram members use Wallet services.

Telegram’s journey with cryptocurrency dates back to its development of the TON blockchain project, which was abandoned in 2020 due to legal battles with the U.S. Securities and Exchange Commission (SEC). However, the TON project was kept alive by community members, who formed The TON Foundation and have continued to advance the project.

Wallet, a custodial wallet bot on Telegram, advises merchants to determine whether their jurisdictions permit them to accept crypto payments.

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