Telegram Group Inc company, owning Telegram Messenger, raised $850 million more from 94 investors in March in the second round of its initial coin offering (ICO). It is reported in the company's notice signed with the US Securities and Exchange Commission (SEC)
The first round of ICO attracted $850 million as well. So, the project has now raised all-time largest total of $1.7 billion, while the company doesn’t exclude another one or more offerings.
Telegram plans to spend the raised funds on the development of Telegram Open Network (TON) blockchain, and the same name messenger. According to the company's representatives, there are more than 200 million monthly active users, and over 700,000 new users sign up each day.
Telegram project aims at creating a digital asset that will finally become a widespread payment means. The project includes developing a multi-blockchain structure, able such transaction speeds and processing volumes, to compete with Visa Inc. and Mastercard Inc., according to Telegram documents.
ICO participants are offered to invest in the so-called “Simple Agreement of Future Tokens” (SAFT), which promises to distribute digital assets to investors, after they are enlisted by cryptocurrency exchanges.
Telegram рассчитывает, что его токены получат листинг в январе 2019 года или, самое позднее, до конца 2019 года.
Telegram expects its tokens to be enlisted in January 2019, or, the latest, before late 2019.