Gracy Chen, CEO of crypto exchange Bitget, said that Telegram is becoming like WeChat.
Chen used the term ‘one-step app’, others use the word ‘superapp’, but what they mean is Telegram is becoming an app that’s a social media messaging app, but also an app to order for stuff like food, and it also offers financial services such as a crypto. And so on.
The reality is, while it is true that WeChat is often used as a prime example, even Musk said he wanted to Twitter into a WeChat-like superapp, a lot of other platforms are doing that.
I use Revolut a lot, and it is exactly like that.
Transacting either directly in the app or through the app, you can already use it for things related to travel, shopping and so on.
And this trend is likely to continue growing.
In part, this is due to the fact that users and customers are fed up with legacy platforms, and also because of convenience. It’s just easier to keep everything in one place.
As for the financial side of things, according to Chen speaking to Cointelegraph, it’s just because there are countries where the financial system is so broken, you kind of to turn to alternative solutions.
Chen said that Telegram adotpion is skyrocketing in Nigeria and Egypt, and African countries in general.
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