The popular messaging platform, Telegram, now incorporates an innovative tool called Wallet Pay, enabling individuals to receive payments in various cryptocurrencies including Bitcoin, Toncoin (TON), and the Tether USD (USDT) stablecoin. The development of this tool has been executed by the dedicated Wallet bot team and seamlessly integrated into the existing Telegram bots and services.

The acceptance of cryptocurrency payments through Telegram is accessible in numerous countries worldwide, with the exception of the United States and nations on the blacklist of the Financial Action Task Force (FATF), such as Iran, Myanmar, and North Korea. Notably, this feature operates smoothly in countries like Russia, Indonesia, Vietnam, and Egypt, despite the legal prohibition of cryptocurrency usage for conducting transactions involving goods and services.

According to a representative from the Wallet bot development team, the team has received an impressive number of applications, reaching several hundred, from potential Wallet Pay users. However, the complete implementation of Wallet Pay is currently hindered by the absence of the crucial Know Your Customer (KYC) function, resulting in its temporary inoperability.

In 2018, Telegram introduced the TON blockchain, an ambitious project that aimed to establish its own cryptocurrency. However, due to regulatory concerns raised by the United States authorities, the plans to launch Telegram’s native cryptocurrency on the platform were ultimately abandoned in 2020. Nevertheless, the development efforts were carried forward by the TON Foundation community. In March, the Wallet bot expanded its compatibility to include the USDT stablecoin, extending beyond its initial functionality limited to Bitcoin and TON.