The cryptocurrency payment industry continues to evolve with a new innovative cryptocurrency payment option, we talking crypto-friendly Telegram messenger.
Apparently, Wallet, a Telegram bot allowing users to buy and sell cryptocurrencies like Bitcoin
BTC $30,560, has launched a crypto payment solution based on The Open Network (TON) blockchain.
Amazingly, This new Wallet Pay service provides crypto easy and swift transactions between users and retail businesses, enabling direct payments within the Telegram interface.
Announcing the news on July 13, Wallet revealed that the new payment feature is immediately enabled on the platform within all jurisdictions supported by the wallet by Telegram service.
At the moment, this list of supported jurisdictions supported by Wallet Pay includes most countries except for the United States and those blacklisted by the Financial Action Task Force, a spokesperson for Wallet said. For example, Wallet Pay doesn’t serve countries like Iran, Myanmar and North Korea…. Nigeria? Yet to confirm.
Meanwhile, some countries of Wallet bot’s operation do not allow residents to pay using cryptocurrency, the wallet service puts compliance responsibility on local businesses. The Wallet representative stated:
“Businesses should decide if they are allowed to do business within their jurisdiction before applying to make use of Wallet Pay.”
The list of jurisdictions that do not allow their residents to pay for products and services with crypto includes countries like Russia, Indonesia, Vietnam, Iran, Egypt and others.
Moreover, Russia, which officially banned domestic crypto payments in 2020, is the second-biggest country in terms of Telegram downloads after India, according to data from Statista. Indonesia, Egypt and Vietnam are also among the top 10 countries of Telegram app downloads.
