Convenient Crypto: Unveiling Telegram’s Mini-Apps

Telegram, the popular messaging app with 900 million users, is integrating mini-apps and Tether (USDT) stablecoins, allowing users to seamlessly engage in peer-to-peer interactions. This integration will introduce many users to cryptocurrency for the first time without them even realizing it. Developers will benefit from this feature as they can now launch various business activities, including e-commerce, paywalled content, and games, on top of The Open Network’s layer-1 blockchain using the stablecoin.

Justin Hyun, the director of investments at the TON Foundation, spoke about the significance of Tether on TON, stating that it will unlock the creator economy within Telegram and TON. Users will no longer face the barriers of having to acquire different types of cryptocurrencies or tokens to use these features. Hyun highlighted that the most interesting use cases are those that utilize social viral mechanics, such as games powered by Telegram mini-apps. The advantage of this integration is that users can access these products without having to download separate apps.

To illustrate this point, Hyun mentioned the success of the game Catizen, which gained 2 million users in just two months after switching to TON from a different blockchain. Previously, it had taken them a year and a half to reach 600,000 users. In contrast, other social media platforms like WeChat in China, Line in Japan, and KakaoTalk in South Korea are highly regionalized and struggle to break through international barriers. TON’s global reach and the availability of Tether eliminate the need for local payment gateways, allowing users to transact seamlessly across different regions. Tether enables Telegram to bypass payment restrictions imposed by Google and Apple.

The integration of Tether on TON marks a return to the original vision of the project that was disrupted by regulatory obstacles in 2020. The United States Securities and Exchange Commission’s opposition prevented The Open Network from conducting an initial coin offering. With the creation of the TON Foundation in 2021 by open-source developers, the project has regained momentum and continues to evolve.