Telegram could launch its long awaited cryptocurrency the Gram by 31st Ocotober. The company plans to deliver the coin in the next two months, according to a report at The New York Times.
If the company doesn’t deliver the cryptocurrency by October 31st, it legally forfeits the $1.7 billion that it has raised to make those coins a reality.
That 31st October deadline is real, according to legal documents reviewed by the Times, so the company’s trying to make those coins real, too, and as quickly as possible.
Users will apparently store them in a Gram digital wallet, one that Telegram plans to offer to all its 200+ million users around the world, according to three anonymous investors who spoke to the publication.
Now at the moment it is not quite clear how regulators might deal with a new Telegram cryptocurrency, seeing how Telegram itself is a decentralized messaging operation.