Telegram, the encrypted messaging app company plans to launch its Telegram Open Network (TON), its own native cryptocurrency based on blockchain, according to TechCrunch and other online publications.
The company is expected to raise billions in the Initial Coin Offering (ICO) with a private pre-sales of $500 million. ICOs have been a hot commodity in year 2017 and many blockchain based startups have raised billions of dollars from investors.
Telegram has 180 million users that are expected to participate in ICO sales. The cryptocurrency will be called “Gram.