Telegram users now have the option to send tether (USDT), the world's largest stablecoin by market cap, to one another through the messaging app's chat feature. The @wallet bot has been updated to include USDT, enabling users to buy and sell crypto within the app. The integration of crypto payments into messaging apps like Telegram has the potential to drive mainstream adoption, making sending cryptocurrency as easy as sending a message or photo.
Telegram added bitcoin and toncoin to its @wallet marketplace in April 2021, with the latter also available for in-chat transfers. Stablecoins such as USDT offer the benefits of other cryptocurrencies without the price volatility, making them an essential component for users who want to keep their funds in the crypto ecosystem but avoid sudden value fluctuations.
The addition of USDT could prove significant for Telegram's crypto service, which has been exploring blockchain-based projects like the abandoned Open Network (TON) and the more recent blockchain-based auction platform Fragment.