Telegram will support the cryptocurrency Toncoin for payments

The decentralized economy advances and therefore we see that now Telegram will have its cryptocurrency for payments in the app . It is an announcement that Pavel Durov himself has given about the evolution of the Telegram Open Network (TON) project that is now transformed into Toncoin and will work independently.

At first, until 2020, the development of the TON platform had begun and after a few months of inactivity, it returns independently to create its own cryptocurrency that will allow users to use it to make payments within instant messaging.

Donate opens the door for Toncoin

The announcement of the new Toncoin comes in the middle of the preparation for the arrival of the Donate service, a payment platform verified by Telegram in which people can make donations through messaging and for this they can use Toncoin as a means for transactions.

Toncoin’s association with Donate was recently announced, so soon users will be able to make donations and also make payments for subscriptions or services that join the platform using this cryptocurrency as a means of exchange. Channel administrators will also have the possibility to collect their income using this cryptocurrency.

The subscription service also made the announcement of its link to Toncoin so that users can pay through the currency in an easy and decentralized way.

In 2017, the creators of Telegram, Pavel Durov and his brother Nikolai created the TON blockchain, but a battle with the United States Securities Commission forced them to separate from the project in 2020, when they were indicted for violating United States securities laws. with its first offering of $ 1.7 billion in 2018 with the first coin offering.

With the recent announcements about Toncoin, the growth of this cryptocurrency has been stimulated and its price has been growing, close to 30 percent, in the last hours and is currently positioned close to 4 dollars at the time of publishing this note. You can find the Toncoin in the main current exchanges such as Binance, OKEx and FTX among others.

Via: CoinTelegraph