Telegram to Launch New Cryptocurrency

The encrypted chat application is set to launch its new within 2 months.

, the popular Russian encrypted messaging application, is set to enter the market much sooner than previously anticipated by industry experts.

Despite the legal obscurities surrounding the release of by media companies, highlighted by the public debate held around the announced release of ’s ’, does not seem to halt its efforts to launch its own currency. Earlier this year has announced it will start developing its own and received additional investments, for this particular purpose from its investors. Following the lively public debate brought about by ‘’, has remained silent about its own currency, leading many to believe ’s cryptocurrency development was halted or shelved. New discoveries suggest those assumptions were inaccurate.

new Cryptocurrency – Finleaks

According to legal documents obtained by the , intends to release its cryptocurrency, ‘’, no later than October 31st . As revealed in the documents, if Telegram fails to release ‘’ by October 31st, it will have to reimburse its investors the $1.7B it has received for this particular endeavor. The early release date seems extremely ambitious and many wonder if Telegram will be able to meet the tight schedule it has agreed to.

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’ will be offered exclusively to Telegram’s 200 million users and will be stored in a unique developed by the company. Many of the legal and regulative challenges facing the launch of new in the West remain unresolved, however, as Telegram is a Russian company with no operations in the , it may avoid many of the problems its competitors faced in the past.

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