Connected Economy: Telegram Allows Crypto Payments

Today, in the connected economy, messaging service Telegram announced its intention to allow its users to send and receive payments using cryptocurrencies.

Additionally, Era Labs – the makers of Bored Ape Yacht Club – is gearing up to sell $300 million worth of virtual land in the Metaverse, while Western Union will leverage its partnership with the UK Postal Service to enable cross-border payments. is expanding.

Telegram adopts in-app crypto payments, following rising social media trends

The Telegram messaging service will allow its 550 million users to send and receive payments using the Tonecoin cryptocurrency in real time.

With the help of a new digital wallet, Telegram members can “send TON coins directly in Telegram chat… without transaction fees to any Telegram user,” the company said on Twitter. “With this service, you will no longer need to enter long wallet addresses and wait for confirmations.”

The move is the latest example of the adoption of crypto payments by social media companies. Among them is Meta’s two-billion-customer WhatsApp messaging service, which began supporting stablecoin Paxos in December, after Meta abandoned its Diem stablecoin project.

Bored Ape Yacht Club Sets Up $300 Million Metaverse Land Sail

Yuga Labs, founder of popular bored app yacht club NFT Collection, says it expects to generate up to $300 million in cryptocurrency by selling land in the Metaverse this weekend.

The sale, which is set to begin on Saturday, is expected to be the biggest non-fungible token launch ever, with Yuga on the other hand selling NFT deeds for at least 55,000 plots, the soon-to-be-launched Metaverse game. ,

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When the sale begins, each holder will get rights to land worth 305 ApeCoin – the Yuga cryptocurrency launched in March – or more than $6,000. These bidders will purchase in-game land that has not yet been released and is not widely previewed. This allows players to play as the characters they cast in the Metaverse, although the details of the game are still unclear.

Western Union expands partnership with UK Post

Western Union announced that it is expanding its partnership with the UK Post Office to offer cross-border retail money transfers.

The company says postal customers in the UK will be able to send money to friends and family in other countries through Western Union’s digital services or in person at 4,000 post offices across the country.

Through the expanded partnership, which is expected to launch in the fall of 2022, customers can pay their funds in cash, card, mobile wallet or bank account through Western Union’s global network, the society said.


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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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