Instagram introduces Hyperlapse video app that produces time-lapse photography
No account is required to sign in, and creating a time-lapse video requires nothing more than a single tap to capture video. Afterwards, you can upload your video to Facebook and Instagram, or save it to the camera roll on your device..
Instagram Hyperlapse is a free download, and is available for iOS devices only, from the Apple App Store. No word yet from Instagram about versions of the app for Android or Windows Phone.
source: InstagramHyperlapse, Instagram via MacRumors