Telegram goes galactic with "stars": New in-app currency for digital purchases

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Telegram has introduced a new in-app payment system called "Stars" to support its growing ecosystem. Available on both iOS and Android, Telegram Stars allows users to make purchases within the platform's mini-apps. This functionality promotes a hardy internal economy while adhering to Apple and Google's digital product sale guidelines. Additionally, users can convert their Stars to TON, the native token of The Open Network, through the Fragment exchange.

In April, at the Token 2049 conference in Dubai, Telegram announced a collaboration with Tether, the leading stablecoin issuer (USDT). This partnership aims to make Telegram an even more attractive platform for business transactions.  It's also exciting to see Telegram's upcoming launch of in-app purchases for digital goods and services, with a generous 70 percent revenue share going directly to developers.

It's worth noting that Telegram is innovating its approach to in-app purchases. Unlike the typical 30 percent commission charged by Apple and Google, Telegram has announced plans to subsidise advertising purchased with their new in-app currency, Telegram Stars. This move could significantly reduce overall fees for developers.

A recent Telegram post by CEO Pavel Durov highlighted the economic benefits of developing their platform. Durov suggested that developers reinvesting Telegram Stars in app promotion could see commission fees effectively eliminated. Compared to traditional mobile app stores, this competitive advantage could incentivise developers to prioritise Telegram's platform. Additionally, the post mentioned the ability for Mini App creators to convert Telegram Stars to Toncoin through Fragment.

Telegram's Bot Platform has expanded significantly with the addition of in-app purchases for digital goods and services. This move expands the Telegram ecosystem, which already has over 400 million monthly users actively using bots and mini-apps.