Crypto Exchange Blackmoon To List Telegram’s TON Crypto Token

Blackmoon, a crypto exchange headquartered in Caymans Island, revealed its intention to list Gram (TON), the crypto token of Telegram, which facilitates encrypted messaging. The listing is planned through a partnership with Gram Vault, the Swiss based crypto custodian.

Blackmoon, which was established as a conventional financial solutions provider before introducing crypto trading services, intends to improve liquidity by allowing users to buy Gram tokens using bank cards.

In any way, Blackmoon is not a popular cryptocurrency exchange. Still, Gram Vault, the Swiss regulated crypto custodian partner, is supposedly the largest investor in $1.70 billion private ICO (initial coin offering) carried out by Telegram.

The partnership will, as a result, imply that Gram tokens will change hands directly from Gram Vault onto the exchange, guaranteeing real-time and deep liquidity for traders, the collaborators have asserted.

Preceding Blackmoon’s listing news, Liquid, the Japanese cryptocurrency exchange, had claimed that GRAM token sales will take place under its supervision as it will be the official representative for Gram Asia. However, this claim was refuted by unnamed people close to Telegram.

Earlier in September, Liquid revealed the public blockchain wallet address that now stores funds of all partaking investors. Notably, in that Gram token offering, the token was sold to investors at 3x the initial price of $1.33 in Telegram’s second ICO round conducted in March 2018.

There are news reports that Telegram is on its way to introduce Gram cryptocurrency by October, after completing public trial for its Telegram Open Network (TON) in September.

If that turns out to be reality, Telegram would outdo Facebook’s much awaited Libra stablecoin, which is intended to be incorporated in all three messaging services of the social media platform provider, paving way for exposure to about 2.7 billion monthly users.

Gram is also anticipated to be introduced before the launch of central bank digital currency of China. The digital currency, which is being developed by the People’s Bank of China, is widely anticipated to be launched on November 11.