Cryptocurrency company TransCrypt has officially unveiled its beta payments platform to the public.

Consumers can download and use the TransCrypt  Android app from the Google Play Store to send and receive payments in cryptocurrency via popular messaging platform Telegram, according to a press release.

Each user will be required to create an instant wallet within the app, which can be recognized if shared with a friend, according to the release. The app will recognize the wallet address anywhere within the previous ten messages of a chat, to facilitate ease of use.

Transactions incur zero added conversion costs on the Bitcoin network. The built-in conversion system means exchanges are calculated automatically and payments can be made in the currency with precision and ease, according to the release.

"We're set on a vision to provide access to the crypto market to as many people all over the world, and we're proud in seeing that finally happen," Nick Machulis, CEO of TransCrypt, said in the release. "We have exciting plans that will uncover our payments solution to people on various messaging platforms."

TransCrypt also recently announced that Jon Matonis, founder of Bitcoin Foundation, and David Drake, founder of global asset management business LDJ Capital, have joined the company as advisors to further support the business during the next phase of its growth.