Telegram launches new currency called Stars

Telegram publishes "Stars." This is a token that can be used to pay for digital goods and services. Stars can be purchased through in-app purchases from Google and Apple. They can be used to buy products offered by bots or mini-apps in Telegram, from e-books to online courses and games.

Later, it will also be possible to buy small gifts or special emojis and the like. Developers, in turn, can convert their Stars into Toncoin, Telegram's cryptocurrency, through a service.

They can also use their Stars to advertise their apps on Telegram. Telegram does not charge a fee. The company hopes this will give it a competitive advantage over Apple and Google, which charge up to 30 percent. 400 of Telegram's 900 million users regularly interact with bots and mini-apps on the platform.

Telegram's cryptocurrency Toncoin has been on the rise for months. It has already risen 300 percent this year and at the time of writing is trading at USD 7.50 with a market capitalization of USD 18 billion.