Social media giant Telegram has launched its latest cryptocurrency exchange service, giving users the flexibility with which to acquire both Toncoin (TON) and Bitcoin (BTC).

As reported by Blockworks, Telegram users can buy the two cryptocurrencies and send them to each other through chat messages.

This is one of the most ambitious moves of the Telegram platform after the regulatory end of the Gram Token project that was crushed by the United States Securities and Exchange Commission (SEC). TON and BTC trading options are the only crypto tokens available that can be traded for now, and users can make these purchases through a small range of fiat currencies, including USD, EUR, UAH, BYN, and KZT.

While Telegram’s trading option is presented as an “anonymous P2P offer”, users will need to share their phone numbers in order to deposit, trade or buy cryptocurrencies. According to the Blockworks report, the service will be free for buyers, however, those who sell their coins will have to pay a commission of 0.98%.

“It is aimed at common users and provides a low entry threshold for learning about blockchain. Many services in TON are similar to the usual apps that people are already used to using,” said a TON Foundation representative in a shared statement, adding that “without leaving Telegram you can buy cryptocurrencysend it to your friends using a short nickname without long wallet addresses, get internet access with the @mobile bot, pay for a subscription to your favorite Telegram channel along with many other services.”

Telegram has always leaned positively towards blockchain technology, pioneering the TON protocol. When the project and the developers behind it were forced to return $1.2 billion of the funds received from investors along with an $18.5 million fine. The project refused to pack up and has been headed by Anatoliy Makosov and Kirill Emelyanenko after Telegram pulled out.

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