Sphere Labs has announced a new fiat on-ramp and off-ramp within Telegram, enabling users to transfer bank funds to wallets and vice versa. The service charges 0.1% per transaction for early users, opening the week of May 27, with a full launch later this year. Users need a USD or euro-denominated bank account. This addition enhances Telegram’s blockchain ecosystem, leveraging the Telegram Open Network (TON) for comprehensive Web3 services.
