Telegram plans to launch its cryptocurrency

Friday 30 August 2019 10:36 CET | News

The News York Times has announced that Telegram plans to bring digital Gram wallet for its 200 million-plus app users in a couple of months for cryptocurrency transaction.

In 2017, Telegram announced plans for its own cryptocurrency, Gram, and it even raised close to USD 1.7 billion from investors. The company was supposed to do an Initial Coin Offering in mid-2018 but backed out for unknown reasons. 

Telegram’s intent is to launch the Gram by 31 October 2019 or else it will lose USD 1.7 billion worth investments. Gram’s value will be vulnerable to wild swings similar to Bitcoins – Bitcoin managed to peak in late December 2017 up to USD 19,783, but crashed down by 45% in less than a month, below USD 11,000 per Bitcoin unit.

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Keywords: Telegram, launch, cryptocurrency, Gram, digital assets, wallet, Bitcoin
Countries: World