Cryptocurrency users should switch to trustless transactions and self-hosted wallets that don't rely on any single third party,” he said.
“The solution is clear: blockchain-based projects should go back to their roots – decentralization. “The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power,” Durov said at the time, referencing the collapse of FTX a few weeks earlier. 30, Telegram founder Pavel Durov announced the messaging platform’s intention to release a suite of decentralized cryptocurrency products, including a decentralized crypto exchange (DEX) and a non-custodial wallet. According to Decrypt, at present Telegram will only support the USDT run on the Tron blockchain. The new functionality means Telegram users can now select USDT as well as the native TON coin from inside their chat boxes and transfer funds to their contacts instantly. Tether has made significant gains against USDC in recent weeks after Circle, the company responsible for issuing USDC, found itself implicated in the collapse of Silicon Valley Bank, causing it to briefly depeg from the U.S. USDT is the largest stablecoin in the world by market cap at over $75 billion, more than double US Dollar Coin (USDC) at $35 billion. "Imagine being able to buy and sell crypto via a messaging app,” they wrote in a tweet. The announcement was made on Wednesday afternoon by Telegram’s blockchain team, The Open Network. Dollar stablecoin (USDT) seamlessly through chat.
In a major step forward for crypto integration, the over 700 million users of instant messaging app Telegram can now buy, sell and transfer the Tether U.S. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
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