The New York Times (NYT) reported in an article on August 27 that telegrams will launch a $ 1.7 billion cryptocurrency public offering (ICO) within two months.
In addition, one Telegram Open Network (TON) investor who knows well the news of Telegram team said Telegram plans to begin open testing of the platform on September 1st.
Telegram executives’ long-term goal is to provide the gram to all 300 million telegram users, the investor added.
If it is true, it means that Telegram launches a worldwide public digital currency over Facebook’s Libra. As the New York Times points out, little is known about grams technically, and regulators who reacted tremendously to Libra seem to be relatively uninterested in grams.
Authorities need to resolve regulatory issues
It is not yet known how Telegram plans to ease regulatory concerns, but this is not the first time the company has faced problems with grams.
According to Cointelegraph, Telegram canceled the public ICO in May 2018, and several companies are pushing unofficial sales of Gram tokens at sometimes inflated prices.
Telegram will also overtake the People’s Bank of China, which is preparing to issue its own cryptocurrency. In its announcement this week, the People’s Bank of China said it will launch digital money on November 11 this year.