Telegram has announced it will launch its own cryptocurrency as soon as October, sources have said, in a direct move against Facebook Libra.

Sources: Gram Cryptocurrency To Appear By October 31

Speaking to the New York Times on August 27, three anonymous investors said that Telegram had confirmed the issuance of its Gram tokens would soon start.

The deadline, while not specific, lies within the next two months, they said. The publication did not mention what relationship the investors had to Telegram; they could be individuals who bought Gram during its private initial coin offering (ICO) in 2018.

As Bitcoinist reported, Telegram raised a giant $1.7 billion during the sale, leading executives to cancel its public phase.

According to the Times, Telegram “is also planning to make Gram digital wallets available to the 200 million to 300 million global users of Telegram’s messaging application,” a move which would see it beat Libra, still without an official launch schedule.

The upcoming release would also raise significant…

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