As told via a Twitter post on Tuesday, instant-messaging app Telegram has rolled out crypto payments via Toncoin (TON).
To access the feature, users first need to opt in via Telegram’s official Wallet Bot, which allows them to purchase cryptocurrency by bank card, exchange and transfer to other wallets. According to the company, they can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages.
TON stands for The Open Network and was created by Telegram in 2017 for decentralized services such as decentralized storage, anonymous networks, DNS, instant payments and others using a proof-of-stake mechanism. Cointelegraph previously reported that Telegram abandoned TON in May 2020, following a lengthy battle with the United States Securities and Exchange Commission.
The decision came as the SEC alleged that the company sold unregistered securities to the public through its initial coin offering. To complicate the matter, a New York judge had previously ruled that the company could not distribute Grams, a token likened to TON from the then-Telegram Open Network, to investors outside of the United States.
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