{"id":35847,"date":"2023-07-14T21:04:40","date_gmt":"2023-07-15T01:04:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/telegrams-wallet-bot-enables-bitcoin-and-usdt-payments-for-merchants\/"},"modified":"2023-07-14T21:04:42","modified_gmt":"2023-07-15T01:04:42","slug":"telegrams-wallet-bot-enables-bitcoin-and-usdt-payments-for-merchants","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35847","title":{"rendered":"Telegram’s Wallet bot Enables Bitcoin and USDT Payments for Merchants"},"content":{"rendered":"
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Telegram<\/strong>‘s Wallet bot is enabling merchants to accept Bitcoin (BTC)<\/strong> and Tether (USDT)<\/strong> through the messaging app.\u00a0<\/p>\n

Wallet, a Telegram bot built on The Open Network (TON)<\/strong> blockchain that allows users to transfer cryptocurrencies within chats, has launched a crypto payment solution.\u00a0<\/p>\n

In a Thursday tweet, TON said the new payment functionality is immediately accessible in all regions supported by the wallet service<\/p>\n

“Cryptocurrency payments on Telegram just got easier with Wallet Pay: a payment service developed by the wallet team specifically for the Telegram ecosystem,” the team said in the tweet.\u00a0<\/p>\n

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“With its help, merchants will be able to instantly accept payments in cryptocurrency, and users will be able to pay for goods and services.”<\/p>\n<\/blockquote>\n

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In the past, merchants had to resort to “do-it-yourself” solutions with basic bots that were linked to cryptocurrency payment systems.\u00a0<\/p>\n

However, courtesy of the new feature, called Wallet Pay, merchants can now seamlessly accept cryptocurrency payments within the Telegram app.\u00a0<\/p>\n

This means that users can make payments directly within their chats with merchants.<\/p>\n

The Wallet chatbot, also known as @wallet on Telegram, is an independent bot built on the TON blockchain and Telegram.\u00a0<\/p>\n

It allows users to store, trade, and transfer three cryptocurrencies, including Toncoin (TON), Tether’s USDT on Tron, and Bitcoin.\u00a0<\/p>\n

How to Receive Payments Via Telegram’s Wallet Bot<\/h2>\n

To receive crypto payments on Telegram, merchants must first apply on the Wallet Pay website.\u00a0<\/p>\n

According to the Wallet chatbot team, there are already approximately 200 companies in the queue to implement the product, with thousands of small businesses expected to apply in the future.\u00a0<\/p>\n

Users can create a new crypto wallet instantly linked to their Telegram account, without the need to save seed phrases or private keys.<\/p>\n

Telegram’s venture into cryptocurrency began years ago with the development of the TON blockchain project.\u00a0<\/p>\n

However, due to legal battles with the US Securities and Exchange Commission (SEC)<\/strong>, the\u00a0project was abandoned\u00a0in 2020.\u00a0<\/p>\n

The TON community, known as The TON Foundation, has since taken over the project and continued its development.<\/p>\n

Despite the\u00a0availability of cryptocurrency services on Telegram\u00a0for over a year, only a fraction of the platform’s massive user base has adopted Wallet services.\u00a0<\/p>\n

Out of over 700 million Telegram members, only 2 million use Wallet.\u00a0<\/p>\n

It is worth noting that Telegram is not the only social media platform that has integrated crypto payments over the past few years.\u00a0<\/p>\n

Last year, Twitter\u00a0teamed up with Stripe, an online payments company, to allow merchants to pay their customers in cryptocurrencies.<\/p>\n<\/p><\/div>\n