Gram: Telegrams cryptocurrency will be launched by October 31

After all, the cryptocurrency of Telegram — the Gram — may go public. According to a New York Times study, the encrypted messaging app company plans to produce “the first batches” within the next two months.

The last time The Verge reported on the Gram was with regards to Telegram cancelling its original coin offering (ICO), so the news could come as a bit of a surprise unless you carefully followed Telegram and cryptocurrency. If you are well informed, you’ve probably heard a rumor that Telegram has a tough time-limit to make it happen: if it doesn’t deliver by October 31, it will legally forfeit the $1.7 billion it raised to make those coins a reality.

According to legal papers reviewed by the Times, that October 31st date is genuine, so the company is also attempting to create those coins real and as rapidly as possible.

According to three anonymous investors who spoke to the newspaper, customers will obviously store them in a Gram digital wallet, one that Telegram intends to deliver to all its 200 + million customers worldwide.

How the regulators will handle a fresh Telegram cryptocurrency is not quite evident, seeing how Telegram itself is a decentralized messaging operation that has been happily tangled with governments in the past. Facebook’s Libra is the nearest parallel, but one based in the U.S., and a bit of early scrutiny has already been found.

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