According to Odaily, blockchain development company Sphere Labs has announced the launch of a bank-to-wallet extension for Telegram. This feature allows users to transfer funds directly from their bank to their wallet within the Telegram app, or vice versa. The transaction fee for early users is set at 0.1%. The service, which is expected to be fully launched later this year, will be available to early users from May 27. Users are required to link the service to a bank account denominated in dollars or euros.
Telegram continues to be a hub for crypto innovation and development, with the TON network providing a one-stop Web3 service for users. Telegram boasts 800 million monthly active users and 52 million daily active users, sending 15 billion messages every day. By the end of 2024, the user count is expected to reach 1 billion. India is the country with the most Telegram users, with 104 million users, making Telegram an important platform for providing fintech services to developing countries. The extension feature from Sphere Labs aims to promote the development of financial services in these regions.