Telegram, whose crypto project was vetoed by the SEC in the past years, now seems to be returning to its crypto activities.
Popular messaging app Telegram is making a comeback by supporting crypto payments on its platform after it was forced to terminate its own Blockchain project. With Telegram activating this feature, it is thought that other messaging applications can add similar features.
Telegram's subsidiary TON Foundation also operates as the parent company of Toncoin. The organization has enabled crypto payments on Telegram with no transaction fees, as well as integrated the ability to purchase Bitcoin within the app.
Telegram stepped into the industry with a serious crypto project in 2019. So much so that important financing of $ 1.7 billion in the investment tour was caught on the radar of the US Securities and Exchange Commission (SEC). The SEC sued Telegram for illegally offering crypto assets, preventing Telegram from launching its crypto project. As a result of the lawsuit, Telegram was fined and returned the capital it collected to investors.
550 million Telegram users will be able to perform interpersonal crypto transfers
Pavel Durov, CEO of Telegram, which is now known to have 550 million users, has now commissioned Toncoin independently of Telegram and introduced it as a payment tool to be used in crypto money payments on Telegram.
In the statement made on Twitter, it was announced that users can send Toncoin between each other for free.
This crypto payment service, which is currently limited to Toncoin, is seen as an extremely important development in proving that crypto transfer via the messaging application is possible.