- Alchemy Pay’s TON integration is the next step towards crypto adoption
- TON responded positively to the news about the price charts
Afterwards, Alchemy Pay is in the news today announced the integration with The Open Network (TON). This strategic partnership aims to enable Telegram users to seamlessly conduct cryptocurrency transactions within the messaging app, without having to leave the platform.
What does this integration mean?
This integration is expected to significantly boost cryptocurrency adoption among Telegram’s millions of active users. This is expected to make crypto transactions more accessible and convenient.
By extension, this move could make Telegram one of the most crypto-friendly social media platforms, further blurring the lines between communications and financial transactions. By integrating Alchemy Pay’s payment solutions, users can make purchases, transfer money, and even tip content creators using cryptocurrencies.
Furthermore, this move could have broader implications for the cryptocurrency market. As more social media platforms integrate crypto payments, the accessibility and use of cryptocurrencies are expected to increase. This could lead to greater mainstream adoption as more people become comfortable using digital currencies for everyday transactions.
This development is part of a broader trend where social media platforms are increasingly exploring cryptocurrency integration. Platforms like Twitter and Facebook have also shown interest in integrating crypto payments to improve user experience and engagement. For example, Twitter has introduced Bitcoin tips for content creators, while Facebook (now Meta) has been working on its Diem digital currency project.
Reddit has even introduced Community Points, a blockchain-based rewards system for its users.
TON’s prize and Durov’s arrest
As expected, the news had a corresponding effect on Toncoin’s value on the charts. In the last four days alone, the price of TON has increased.
Telegram’s decision to integrate with TON is particularly important given the platform’s history. Telegram itself has been in the news in recent weeks after founder Pavel Durov was arrested in France. Immediately after the arrest, the aforementioned altcoin plummeted by around 20%, with the crypto losing almost all of its August gains.
Here it is worth noting that this update also raises questions about cryptocurrency regulations. As more platforms adopt crypto payments, regulators may increase their oversight of these transactions, especially in light of ongoing concerns about money laundering and financial fraud. In fact, the latter were among the charges filed against Durov when he was arrested.
Credit : ambcrypto.com
