Telegram tokens due in two months
As the New York Times reported on Aug. 27, three anonymous investors in Telegram’s $1.7 billion private initial coin offering (ICO) said the company had confirmed it would issue the first tokens in two months’ time.
The long-term goal for executives is to make Gram available to all of Telegram’s roughly 300 million users, the investors added.
If true, Telegram would beat Facebook’s Libra in launching a public global digital currency. As the New York Times notes, little is known about Gram on a technical level, and little attention has come from regulators compared with the giant reaction to Libra.
Regulatory scrutiny awaits
It remains unknown how Telegram plans to appease authorities concerned about a free-ranging alternative to fiat currency, but Telegram has faced problems over Gram before.
Telegram would also beat another entity keen on issuing a Libra competitor, the People’s Bank of China, or PBoC, which this week announced a rollout for its digital currency would begin on Nov. 11 this year.