Connect with us


Telegram users may now send cryptocurrencies



Telegram users may now send cryptocurrencies

Telegram, an encrypted messaging program that previously abandoned its token, now accepts cryptocurrency payments.

Protocol says that this could make crypto payments on messaging apps more common.

The TON Foundation, which manages the toncoin token, has made it possible to make free payments in the app by sending crypto to other users who use the toncoin (TON) token. It can also be used to buy bitcoin inside the app.

A legal fight from the AUS Securities and Exchange Commission forced Telegram to drop its plan to make it’s token. Telegram has about 550 million users (SEC).

Telegram was sued by the SEC in 2019 after it raised $1.7 billion to build its token, which the SEC called an illegal token offering.

When Telegram later paid a fine to the SEC, it also said that it would give back money to people who bought shares.

Since then, Pavel Durov, the CEO of Telegram, has backed a separate token called Toncoin that isn’t connected to Telegram. The report said that the coin can now be used to pay for things on Telegram.

The TON Foundation says it has made it possible to send Toncoin “free of charge to any Telegram user.” It announced this on Twitter.