Telegram users can now send Toncoin on chats within the application. Taking to Twitter, TON (The Open Network) announced that Telegram supports Toncoin transactions without any fees. It also shared a short video showcasing how crypto transactions work on the platform.
According to a report by Verge, users will have to add Telegram’s Wallet bot to the attachment menu for purchasing cryptocurrency by bank card, exchange and transfer to other wallets.
Users will have to pull up the Wallet from the attachment menu, enter the amount of Toncoin to be sent, confirm the transaction and hit the send button. The recipient will receive the amount in real-time, it added.
Telegram turned down its cryptocurrency operation, known as the Telegram Open Network (TON), after a legal challenge from the US Securities and Exchange Commission (SEC).
TON was introduced by Telegram CEO Pavel Durov and Nikolai in 2018, The Verge reported. The SEC sued Telegram for the failure to register $1.7 billion in sales collected as part of its pre-ICO. Telegram ended up paying a penalty.
According to the report, Durov then endorsed Toncoin, which is now enabled for payments on Telegram.