The TON network, founded by a Telegram team, now enables credit card payments with Bitcoin, TON and the stablecoin USDT. Users of the messenger can thus conveniently pay with crypto at their favorite stores.
TON network enables credit card payments with Bitcoin
The messenger Telegram, which is now used by around 700 million people worldwide, can now be used as a crypto credit card. For this purpose, the TON team developed the app Wallet Pay, which supports Bitcoin, USDT and TON, the native token of the TON network.
Users of the app also have the option to buy these cryptocurrencies via bank transfer. This means that users do not need to purchase cryptocurrencies from external providers in order to charge their credit card.
The TON network has already offered sending and receiving Bitcoin, its own decentralized exchange, and NFTs since 2022. However, the option to pay with crypto via credit card opens up many new and important opportunities.
Andrew Rogozov, founding member of the TON network, stated:
“By developing and promoting such a commonly requested functionality, we are taking another step towards mass adoption of cryptocurrencies, which is TON’s main mission.”
Is the mass adoption of the TON network coming?
The TON network was founded in 2018 by members of the Telegram team, but is now an independent project. It is an open-source, decentralized peer-to-peer network that enables (anonymous) exchange of digital assets.
Remarkably, the TON network is already more scalable than Bitcoin and Ethereum combined, with over 50,000 transactions per second. According to the project, the network is also expected to enable over one million transactions per second in the future.
The new credit card function should have a positive impact on the mass adoption of TON. However, it remains to be seen whether Bitcoin users will opt for alternative apps, such as the Lightning Network, in the long term. Nevertheless, it is worth keeping an eye on the development of the TON network – after all, the app has almost one billion users worldwide.
Photo by Viralyft : https://www.pexels.com/photo/using-telegram-app-in-mobile-phone-16841808/
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