Telegram to launch its own cryptocurrency to raise $1.2 bn
Messaging app Telegram is developing a blockchain platform to rival world's second biggest crypto Ethereum and is seeking to raise $1.2 billion through an Initial Coin Offering (ICO). Called the 'Telegram Open Network' (TON), it is designed to host a new generation of cryptocurrencies and decentralised applications. The investors will receive TON tokens called Grams for participating in ICO.