Mille Lees Mille Lees, Thursday 12th September 2019, 11:15 AM GMT+0000
Telegram and Blackmoon

Telegram and Blackmoon Partnership Rumoured

Blackmoon, the Cryptocurrency Exchange from the Cayman Islands, is rumoured to be partnering up with Telegram in the upcoming quarter. This partnership would enable Blackmoon to provide the Gram Token. Considering that Telegram’s cryptocurrency is estimated to be released by the end of October, there’s a good chance that this rumour will prove to be reality in a month’s time.

Blackmoon was built as a digital currency exchange that maintains traditional products in the financial space. The Gram Token would mark the first time that Blackmoon received approval for a new digital currency before it was released to the public. Maintaining the Gram Token will enable this exchange to boost liquidity, while also increasing client registrations and trading activity. This partnership is being maintained through Telegram’s subsidiary company “Gram Vault”, which has seen significant investments from Blackmoon since the company was first established earlier this year. It doesn’t come as a surprise that Blackmoon’s exchange would be one of the first to receive this digital currency.

Currently, Blackmoon isn’t a popular exchange amongst retail clients and traders in the crypto space. However, it’s estimated that the company invested more than $1.7 Billion into Telegram’s ICO (Initial Coin Offering). Telegram is one of the world’s most popular messaging services, and when Blackmoon begins to advertise their Gram Token offerings, it’s anticipated that their popularity will skyrocket. However, it should be noted that all sales of the Gram Token are first process through the Gram Vault in Sweden.

The Liquid Exchange

Additionally, Blackmoon isn’t the only exchange rumoured to be proving the Gram Token in the coming month. The Japanese Exchange “Liquid” has publicly stated that they’ll be an official representative of the token for Gram Vault Asia. However, this announcement was disputed by sources close with Telegram executives. Most believe that the Liquid Exchange was lying in a ploy to attract Telegram’s attention for the Asian market.

Liquid’s response to Telegram’s denials weren’t professional, as the exchange disclosed private information to the public. This information included numerous wallet addresses for investors participating in the Gram Token. This breach of security on Liquid’s behalf showed that Telegram was selling their token from three times it’s value to small investors. This information barely effected the pace of the Gram Token, and now Liquid has pushed themselves into a corner for a lawsuit.

Mille Lees

Author: Mille Lees

Millie has been with whichbroker.com since the start. She has a passion writing financial news after an internship at Bloomberg London. Millie's background in journalism and politics means she has an eye for a good story. Millie graduated from LSE and has a masters from Durham University England. Mille Lees can be contacted at [email protected], View all posts by Mille Lees

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