• by Colin Kirkland , July 3, 2024

In line with Telegram's new premium business features, the messaging app is expanding “Stars,” its in-app digital currency, to premium users for paid content.

Creators can now convert the Stars they earn on the platform to a cryptocurrency and receive discounted ads.

Moving beyond the sale of physical products, Stars launched at the start of June to help promote the buying and selling of digital services -- “from e-books and online courses to items in Telegram games,” a blog post reads – via bots and mini apps included on the Telegram platform.

Telegram is also introducing the ability for creators to convert their Stars into Toncoin, a cryptocurrency the platform hosts on The Open Network blockchain, through an app called Fragment. This allows channel owners to transfer their earned cryptocurrency to their bank account with no fees.

In addition, Telegram says, channel owners can use their earned Stars for discounts on ads that help promote their channels and theoretically earn more Stars. Creators are also able use their Stars for collectible usernames and premium giveaways.

Stars are just the newest update to Telegram's developing strategy to become profitable and potentially, to go public.

In March, founder Pavel Durov told the Financial Times that Telegram hit 900 million total users and 5 million premium subscribers, and should become profitable by 2025, while hinting at a possible IPO.

To boost its creator ecosystem and challenge Meta’s control over app-based business communication, Telegram began allowing channel owners with at least 1,000 subscribers to receive 50% of the revenue from ads displayed in their channels this Spring.

The platform also invites channel owners to turn their accounts into business accounts and access a slew of new features designed to help them attract and communicate with new customers.