Telegram races towards the launch its Gram cryptocurrency
- Telegram will be sending out initial batches of Gram tokens in the next two months.
- The 300 million users on the messaging platform will receive digital wallets.
Telegram, a social media platform with over 300 million users around the world is pushing for the launch of its own cryptocurrency token. On the other hand, Facebook continues to hit headwinds from regulators for its intended Libra digital asset.
According to an article by the New York Times, Telegram communicated to its investors that it is working towards sending out the initial batches of its Gram token within the next couple of months.
Three investors cited by the New York Times communicated directly with Telegram. They also confirmed that the social media giant will issue digital wallets to the 300 million global users on the messaging platform. The investors decided to remain anonymous due to the nondisclosure agreements signed.
The Gram, according to Telegram is set to become a new global wave for sending value across the world. Unlike Facebook, Telegram has chosen to keep the development of the digital asset out of the public eye. However, its launch could spur a regulatory volcano as did the launch of Libra.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
