Alty, the One-Click Social Messaging Wallet, Migrates to Algorand Enabling Instant and Nearly Feeless Chat-Based Crypto Transactions
The influencer platform that brought crypto to popular chat mediums WhatsApp and Telegram using the Algorand network has successfully closed a $1,500,000 USD seed round led by Borderless Capital.
The innovative tropical island based crypto startup, Alty, that made wallet creation and community based staking in everybody’s favorite chat possible, has recently migrated from Ethereum to the Algorand blockchain, which enables in-chat transactions and micro-payments to be instant and practically feeless.
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This platform agnostic chat ecosystem, which is home to the many influential blockchain and crypto communities, has made its arsenal of tools more effective than ever thanks to the latest funding round led by Borderless Capital. Using the Alty Chatbot, users are able to command real time market prices for digital assets, receive up to date news feeds and information regarding these markets and send tips to other users in group-chat environments. Starting now, users can send and receive Algorand and its assets as well, using nothing but WhatsApp or Telegram.
“We’re delighted to have partnered with the most forward-thinking organisation in the crypto industry,” said Alty’s CEO, Liran Peretz. “All of the Alty tools that influencers use to manage and monetise their communities have just been upgraded and we’ve instantly seen an increase in user engagement and wallet transactions overnight.”
Alty made it possible to transact on the Bitcoin and Ethereum blockchains using automation to connect your digital wallet to your phone number. With increasing numbers of microtransactions per day between community members, it became evident that a more scalable solution was necessary to reduce friction to as close to zero as possible. Interoperability is key to the future of this industry and Alty has also partnered with FIO to allow blockchain based wallet nicknames to replace public addresses to simplify accessibility to these new age Fintech products and bring cryptocurrencies to the masses.
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