Telegram’s New Cryptocurrency To Be Open For Retail Investment
Telegram is a very quickly growing social platform. One that will now, for the first time, make its Gram token available to retail investors through the Liquid exchange. This is a limited listing that will only be available from July 10th according to the exchange and that a full public sale is planned for October.
Gram is the native currency for the Telegram social media app which will now be available o retail investors. While the token has previously been sold through Telegram’s two-part ICO in 2018, which brought in just under $2 billion, this is the first time the general public will be able to buy Gram.
As reported by CryptoSlate:
“Gram will go on sale through a listing on cryptocurrency exchange Liquid on July 10. The arrangement is a limited offering, the report said, which will precede a full public sale scheduled for October.”
Even though Liquid exchange has struck a specific deal with Telegram, the exchange will instead list an unspecified number of tokens currently held by a South Korean-based organisation, Gram Asia who hold a significant amount of the tokens.
In addition, he added that the planned Gram listing is “very much part of the plan for TON,” the Telegram Open Network.
Telegram seems to have been working on this for a while now, Kayamori said that a public sale was always planned for the window between the testnet launch and full mainnet release.
In concerns about legal issues, the firm wanted to work with a regulated exchange to see what the waters were like, so to speak.
“Telegram already has an ecosystem, developers and early token buyers and TON ventures, there are already communities being built up. Based on discussions within these communities, Gram Asia has put its best step forward to do this public sale.”