Telegrams ICO goes on public sale

Wednesday 12 June 2019 10:28 CET | News

Messaging app company Telegram has announced that its gram token will be offered to the public via an Initial Coin Offering (ICO).

A limited sale of the gram token will take place on the Liquid exchange from July 10, 2019. The offering reportedly comes before a full public sale planned for October 2019. Investors signing up to Liquid for the sale can purchase grams with either US dollars or the USDC stablecoin. However, the cost of the token and the targeted total for the raise are not being disclosed as yet and any gram tokens sold in the upcoming offering will not be immediately tradeable.

The sale is being made via Gram Asia, which TechCrunch says is a Korean entity claiming to be the largest holder of gram token, according to CoinDesk. The sale is open to all investors globally, but excludes some nations including the US and its territories and Japan, most likely due to fears that the token could be considered a security in those jurisdictions.

Previously, grams have been sold only to accredited investors in Telegram’s two-phase ICO in February and March of 2018 – a sale that brought in around USD 1.7 billion.

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Keywords: Telegram, ICO, Initial Coin Offering, tokens, cryptocurrency, funding, gram token, security
Countries: World

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