Sphere Labs, a blockchain development company specializing in stablecoin services for businesses, has announced a new Telegram extension that allows money to be transferred from banks to e-wallets and vice versa.
Sphere Labs introduces bank-to-wallet utility on Telegram
Sphere Labs recently introduced a new Telegram extension that allows converting fiat currencies to stablecoins and vice versa.
This extension works right inside the Telegram application, allowing users to transfer money from banks to e-wallets and vice versa with a preferential fee of 0.1% per transaction for users who register early. The service will open to early users in the week starting May 27, 2024 and is expected to launch generally later this year.
Users from any country where crypto is not banned can use this Telegram extension. However, the linked bank account must be an account in USD or EUR.
Telegram is on a strong growth trajectory
Telegram continues to be a vibrant platform for innovation and development in the cryptocurrency sector. With the emergence of many bots and applications such as Unibet and CoinGecko, Telegram is building a strong blockchain ecosystem.
Telegram's TON network is the main factor that attracts investors, speculators, and cryptocurrency enthusiasts to Telegram. TON leverages multiple components such as the TON chain , TON DNS, TON storage, and TON websites to provide users with a one-stop solution for all their Web3 needs.
According to data from DemandSage, Telegram has an impressive monthly active user base of 800 million, with more than 52 million people using the platform every day. In addition, every day up to 15 billion messages are sent via Telegram, and the application has been downloaded more than 1 billion. Telegram is also predicted to reach 1 billion users by the end of 2024.
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The article Sphere Labs launches a Telegram utility to help transfer money from banks to wallets appeared first on CoinMoi .
