Telegram’s latest move is set to reimagine the way users interact with cryptocurrencies. With the addition of USDT-TRON, Telegram users can now buy, swap, and trade USDT effortlessly on the app. Read on to discover how this integration will benefit users and USDT alike.
Telegram, the popular messaging application, has announced the addition of Tether’s stablecoin to its platform. This move will enable Telegram users to interact with the $78 billion market cap stablecoin, USDT-TRON, on the application.
While USDT is built on different blockchains, Telegram will specifically support USDT-TRON based on the TRC20 protocol. This integration will enable Telegram users to buy, swap and make trades using USDT on the application. Additionally, users can send the token directly to each other without the burden of transaction fees.
Stablecoins are cryptocurrencies designed to maintain a stable value relative to a specific asset or group of assets. They provide users with the stability of traditional currencies, with the security and speed of cryptocurrencies. Stablecoins are especially useful for traders who want to hedge their exposure to cryptocurrencies or avoid the volatility of traditional cryptocurrencies like Bitcoin.
Currently, USDT is the third-largest cryptocurrency by market capitalization, and its addition to Telegram’s platform is a significant development. This move will allow Telegram’s many users to transact with USDT easily, without having to switch to a different exchange platform.
Telegram first expressed its interest in integrating cryptocurrencies back in 2018, but the project was canceled due to claims by the US government that the project was illegal. However, Telegram has now implemented USDT-TRON, showing the company’s continued interest in the cryptocurrency space.
This integration of USDT-TRON into Telegram’s platform is expected to provide users with a faster, cheaper, and more accessible way to transact in cryptocurrencies. It is also a significant development for USDT, which continues to expand its reach and user base.
Telegram has as many as 500 million active users and this recently added feature will potentially introduce many traditional users to stablecoin cryptocurrencies. Moreover, Telegram is already home to many web3-based projects and communities, due to its early support for the industry at a time when companies were still researching the matter.
Overall, the integration of USDT-TRON into Telegram’s platform is a significant development that is expected to benefit users and USDT alike. As Telegram continues to expand its reach, this move is expected to make it easier for users to access and transact in cryptocurrencies.
It remains to see the long-term effects of this policy but it will surely be a benefit for telegram-based crypto traders and individuals. Stay tuned for more developments.
Edmond is a passionate writer for Video games, GameFi and Web3. He has worked for top GameFi companies and video game/crypto news websites.