Telegram Wallet bot enables in-app payments in Bitcoin, USDT and TON
The cryptocurrency payment industry continues to evolve with a new cryptocurrency payment option coming to crypto-friendly Telegram messenger.
Wallet, a Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin (BTC), has launched a crypto payment solution based on The Open Network (TON) blockchain.
Called Wallet Pay, the new service provides crypto payment transactions between users and retail businesses, enabling direct payments within the Telegram interface.
Announcing the news on July 13, Wallet told Cointelegraph that the new payment feature is immediately available within all jurisdictions supported by the wallet service.
At the moment, this list of supported jurisdictions supported by Wallet Pay includes most countries except for the United States and those blacklisted by the Financial Action Task Force, a spokesperson for Wallet said. For example, Wallet Pay doesn’t serve countries like Iran, Myanmar and North Korea.
As some countries of Wallet bot’s operation do not allow residents to pay using cryptocurrency, the wallet service puts compliance responsibility on local businesses. The Wallet representative stated:
The list of jurisdictions that do not allow their residents to pay for products and services with crypto includes countries like Russia, Indonesia, Vietnam, Iran, Egypt and others. Russia, which officially banned domestic crypto payments from 2020, is the second-biggest country in terms of Telegram downloads, second after India, according to data from Statista. Indonesia, Egypt and Vietnam are also among the top 10 countries of Telegram app downloads.
The Wallet's representative noted that the platform isn’t aware what merchants would be first to test out its payment feature because the firm
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