Anchorage To Be The First Institutional Custodian For Telegram's GRAM (GRM) Token

    Anchor Labs, a digital custodian, has recently affirmed that the company would be the first institution to be officially qualified for supporting Telegram’s Gram (GRM) token. Anchorage Trust Company, a subsidiary of Anchor Labs, will hold the tokens for institutional investors during the launch, which is set to happen on October 31.

    Diogo Monica, the president of the company, affirmed that the company is registered as a money services business and that they provide custody services for the clients. At the moment, the company has not registered with the U. S. Securities and Exchange Commission (SEC) yet, so it will not be able to provide the services for residents of certain states such as New York.

    Two Ways To Buy Gram Tokens

    The CEO of Anchorage affirmed that there are two main ways in which people can buy their tokens. For instance, they can do it by purchasing the tokens on the open market or then directly with Telegram via its official reserves. According to the executive, these two markets are set to balance each other in the long-term.

    He also cited the Telegram Open Network paper and affirmed that the tokens from the reserve will be sold at higher prices as the time passes, which is said to improve the value of the network.

    The first token will cost ten cents of a dollar and then each token later will be sold for one-billionth more, which will add up in time. To buy the tokens from the company, investors will have to generate their own wallets first.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Silvia A
    Silvia A
    Though relatively new to the cryptocurrency and blockchain space, Silvia has a strong interest in the field and a love of writing as well. She brings an interesting take to current happenings in the industry and enjoys introducing the latest developments to cryptocurrency and blockchain enthusiasts alike. She’s excited to promote a vibrant and fresh discussion as the industry continues to develop and move forward.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Cardano (ADA) Price Analysis (February 23)

    • The cryptocurrency is in a bullish trend in the medium-term and ranging in the short-term outlook respectively. • Patience is required at this period. ADA/USD...

    Criminal Assets Bureau Confiscates Over 6,000 Bitcoin But Unable to Sell Them

    The Criminal Assets Bureau (Cab) has confiscated 12 online accounts, wallets containing 6,000 bitcoin of a drug dealer who had €55 million (over $59.6...

    Top Medical Firms Set to Develop a Blockchain Solution to Prevent Counterfeit Drug Supply

    Top medical firms partner to develop a blockchain based solution to combat counterfeit drugs in the market. The MediLedger blockchain aims to verify...

    EOS Suffers “Major Outage” on Coinbase as Network Performance Issues Arise

    This month alone Coinbase suffered issues with EOS thrice, the exchange is still investigating the problem. Meanwhile, No blockchain is cartel resistant, but EOS’s the...

    New Jersey Introduces Bill For Crypto Firms To Obtain Licenses From State Authorities

    A New Jersey lawmaker introduces a bill to regulate the cryptocurrency and digital assets industry. The bill states each virtual asset company must obtain...

    Bitcoin Revolution Trader At It Again, Targets Professional Cycling Legend Peter Sagan

    Peter Sagan, a renowned cycling legend, has been the latest victim of the Bitcoin Revolution scam which uses the identity of worldwide stars to...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.