Key Points
- Wallet, a telegram payments bot, has allowed payments in Bitcoin (BTC) USDT and TON.
- It states that merchants who minted to use it must bear their regulatory risks and only use it if their jurisdictions allow crypto payments.
Telegram wallet bot has announced the support of USDT, Bitcoin, and Ton crypto payments. It has also asked merchants to take responsibility for investigating if they are allowed to carry out crypto payments before using its innovation.
Telegram wallet bot enables in-app crypto payments
The Telegram wallet bot has released the Wallet Pay service, allowing users to transact in three crypto assets named above. This innovation will allow the transaction between users and retain businesses via the telegram interface.
The functionality of this new feature by Telegram has rolled out with support in most countries except the United States of America, where the regular environment is far from friendly. However, it has also deny listed other regions like Iran, Myanmar, and North Korea per international monetary sanctions.
Additionally, it has asked businesses to decide if they can use crypto payments in their regions of jurisdiction before accessing the innovation. As such, it does not expect any usage from countries like Russia, Egypt, China, Vietnam, and others that do not allow using crypto products as treatment.
This development comes when the regulatory atmosphere for crypto assets is still in limbo. Most nations are yet to introduce concrete regulatory frameworks, which have prompted the Telegram wallet bot to ask businesses to take their regulatory risks when accessing the innovation.
Keep watching Fintech Express for more updates on this and other fintech-related developments.