Telegram's custodial wallet bot, Wallet, has rolled out a new cryptocurrency payment solution on the TON blockchain, enabling users to buy, sell, and pay with Bitcoin (BTC), Tether (USDT), and Toncoin (TON) directly within the messaging app.
Key Features of Wallet Pay
- Seamless In-App Payments: Conduct crypto transactions without leaving Telegram.
- Global Availability: Supported in most jurisdictions, excluding the U.S. and FATF-blacklisted countries (e.g., Iran, Myanmar, North Korea).
- Supported Cryptocurrencies: BTC, USDT, and TON.
Fee Structure: 1%–3% per transaction during the testing phase. Withdrawal fees:
- BTC: 0.0004 BTC (~$12)
- USDT: 2 USDT
- TON: 0.05 TON.
👉 Explore Wallet Pay’s seamless crypto transactions
Compliance and Regional Restrictions
Wallet emphasizes that merchants must ensure local regulatory compliance before enabling crypto payments. Prohibited regions include:
- Russia (Telegram’s second-largest market)
- Indonesia, Vietnam, Egypt, and Iran, where crypto payments are banned.
"Businesses should confirm their jurisdiction’s stance on crypto payments before integrating Wallet Pay."
— Wallet Spokesperson
Adoption and Backend Independence
- KYB Process Pending: Hundreds of merchant requests are under review, but no partnerships are confirmed yet.
- Independent Operation: Wallet Pay operates separately from Telegram, leveraging Telegram’s Web Apps protocol for bot development.
How to Access Wallet Pay
- Use the official Wallet Pay Telegram bot.
- Visit the Wallet Pay website (verify URLs to avoid scams).
FAQs
Q: Which cryptocurrencies does Wallet Pay support?
A: Bitcoin (BTC), Tether (USDT), and Toncoin (TON).
Q: Are there withdrawal limits?
A: Yes. Fees apply: 0.0004 BTC, 2 USDT, or 0.05 TON per withdrawal.
Q: Is Wallet Pay available in the U.S.?
A: No. The U.S. and FATF-blacklisted countries are excluded.
Q: How does Wallet ensure security?
A: As a custodial solution, Wallet manages private keys, unlike non-custodial wallets like MetaMask.
Why This Matters
Telegram’s integration of crypto payments aligns with its privacy-focused ethos, offering 500M+ users a frictionless way to transact. With TON’s scalable blockchain, Wallet Pay could rival traditional payment processors.
👉 Discover more about TON blockchain’s potential
Note: Always verify official sources to avoid phishing scams.
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