GRAM Set To Be Released On Blackmoon Crypto Exchange Once Telegram Open Network (TON) Goes Live
Since Telegram’s ICO completed its private ICO process (raising $1.7 billion USD in a year), retail investors are eager for the tokens to be released on the secondary market. Well, a report on Finance Magnates confirms the social messaging app’s GRAM token will first be launched on Blackmoon cryptocurrency exchange. It seems strange but the exchange holds strong ties with Telegram – as top executives share positions in the two companies.
The chief operating officer at Blackmoon, Sergey Vasin commented,
“Blackmoon is pleased to cooperate with Gram Vault and will make every effort to timely list Grams on our platform. Thereby, our users will have access to the most anticipated cryptocurrency among the first.”
Vasin confirmed that the exchange will not be offering derivatives on GRAM token, but the actual tokens, which will give them an advantage when the investors wish to withdraw their tokens. He said,
“At the end, they [the derivatives-offering exchanges] will have to look for liquidity to deliver what they promised to their users, and they will run to buy grams from us with a premium.”
The Blackmoon-Telegram connection
Oleg Seydak, CEO and co-founder of Blackmoon, doubles up as the CEO of Gram Vault, a Swiss based custodian for the exchange, which signed up more than a third of the investors taking part in the Telegram ICO. Ilya Perekopsky, also a co-founder of Blackmoon, works as the Vice President of Telegram which shows the direct relationship between the messaging app and the little known exchange.
Furthermore, Gram Vault is one of the biggest investors in Telegram’s blockchain project, Telegram Open Network (TON). Alfredo Orrego, Gram Vault’s chief business development officer, spoke on the impact of Gram Vault in TON,
“Gram Vault is a joint venture between some of the biggest investors in the Telegram Open Network who invested over $600 million in both rounds of the deal.”
The TON network released its public beta platform earlier this week on Sept.9 following the release of its public blockchain node test net last week. The GRAM main net is expected to be released before the close of October this year.