Telegram has added support for USDT, expanding its cryptocurrency capabilities and making it easier for users to manage their holdings.
The addition of USDT support comes as part of a recent update that also makes it possible for users to conduct P2P transactions using the stablecoin. This will increase the adoption and use of USDT within Telegram’s ecosystem, which already includes support for bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and XRP tokens.
The move follows news earlier this month that TON had raised $1 billion in funding through an initial coin offering (ICO). The project aims to build a platform that will allow developers create decentralized applications (DApps) on top of its blockchain network; it raised $850 million from investors including Sequoia Capital Venture Fund II LP & Lightspeed Venture Partners before announcing plans for another round later this year.
While there are many benefits to integrating USDT on Telegram, it also comes with some risks. One of the biggest concerns is counterparty risk: if you send your funds to the wrong person or wallet address, they’re gone forever! Another risk is network congestion and scam activity increase.
The integration of USDT in Telegram’s Wallet Bot will allow users to buy, sell and hold Tether tokens. This means that anyone who has a Telegram account can now access this functionality without having to go through an exchange or use an external wallet. The integration of USDT into Telegram’s Wallet Bot is likely to boost its adoption as it makes it more accessible and convenient for people who want to use it.
The increased adoption of USDT could help improve market stability by increasing liquidity in the cryptocurrency market since it will be easier for investors who are not familiar with crypto trading platforms or exchanges like Binance or Coinbase to get their hands on USDT tokens.
The move to USDT is great for many Telegram users, but it’s even better for the cryptocurrency market as a whole. The more that money gets injected into the crypto-verse, the better off we’ll all be.