Telegram users can now send and receive crypto after a 2-year break
Telegram users can now send and receive crypto after a 2-year break
- The Ton Foundation announced a new bot on Tuesday for use in the Telegram social app, which enables users to send and receive Toncoin with each other
- It is the first time that Telegram added crypto functionality to its platform after a fight with the SEC in 2019
The cryptocurrency functionality was again included in the social app
According to a Tuesday, users can now send and receive Toncoin and make bitcoin purchases via the app Twitter from the Open Network (tone) Foundation. Telegram has more than 550 million active users and is one of the world's most popular social networks.
The foundation is responsible for the development of the tone blockchain, which enables the use of the crypto infrastructure within the social app. Last week the foundation announced that it collected donations of $ 1 billion to advance its development efforts.
After this announcement, Toncoin rose by 14.3 % from around $ 2.03 on Tuesday to $ 2.32 until Wednesday before giving in the market pressure on the sales page. At the time of printing, the token fell by 10 % within 24 hours and changes the owner for $ 2.06, information according to providers Coingecko Show.
According to the announcement, users do not have to pay transaction fees and no longer have to enter long crypto addresses with the wallet function embedded in the app.
It is the first time that the app has restored crypto functionality since its struggle with the SEC in October 2019. Telegram gave up the project shortly after it was asked by the securities supervisory authority to hire the sale of its native "Gram" token. As part of A comparison 2020 Telegram had to return the $ 1.2 billion that had collected the company for the token sales and was paid for a fine of 18.5 Millions of US dollars.
"The active engagement of Telegram at Ton has ended", says founder and CEO of Telegram Pawel durow wrote back then.
by May 2020, the participation of Telegram in Ton became less clear, and the development of the sound blockchain was overtaken by various enthusiasts and projects that fork the open source code of the original project.
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The contribution Telegram Users Can Now Send, Receive Crypto Following 2-Year Hiatus is not a financial advice.
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