Telegram, a messaging app giant will be offering its crypto asset, Gram to the general public after an Initial Coin Offering (ICO) was conducted in 2018 for only accredited investors. Accordingly, retail investors will now be able to purchase Gram token next month and at a later time this year, according to TechCrunch’s report on June 11, 2019.
Telegram to Allow Retail Investors Purchase Gram Tokens
Based on the report, Telegram is about to allow retail investors to partake in an ICO which will enable them to become holders of Gram. The virtual asset will be listed on Liquid, a cryptocurrency exchange on July 10, 2019. However, this will be a limited listing before Gram is resold again in October 2019.
While the sale will be open to the public, there are limitations as to which countries can be a part. Some countries which have been limited are the U.S., Japan, and Korea. On the other hand, the exact tokens that will be sold are yet unknown but what will be listed on Liquid, are the Gram tokens that are currently in Gram Asia’s holding. Gram Asia is reportedly the largest holder of Grams in Asia.
Telegram Raises $1.7 Billion in Gram ICO in 2018
Gram, the virtual asset in question, was first sold in a two-phase ICO in February and March 2018. The ICO is still considered the largest till date since a total of $1.7 billion was raised. The funds were meant to used to develop Telegram’s blockchain, Telegram Open Network (TON) whose aim is to decentralize several multiple facets of digital communication.
While commenting on TON, Kayamori, Liquid’s CEO said that the blockchain will be launched in October and the plan to list Gram Asia’s token on its digital exchange is aimed towards the launch.
Kayamori also said:
“A public sale was always planned for the window between the testnet launch and mainnet [full] launch. They wanted to work with a regulated exchange to see how it goes before it gets listed [in full] in October.”