Blackmoon, a Caymans Island-registered cryptocurrency exchange, intends to capitalize on its partnership with Gram Vault — a Swiss crypto custodian — to list Gram (Telegram’s forthcoming token).
On Sept. 10, Finance Magnates reported that Blackmoon would enable users to purchase Gram tokens using bank cards for it to boost liquidity. Before launching crypto trading services, the firm initially started as a traditional financial products provider.
Gram Vault’ clients amongst the biggest Telegram ICO investors
In the cryptocurrency space, Blackmoon is a name that is not known by many. But still, its partner’s clients were amongst the largest investors in Telegram’s initial coin offering (ICO) worth $1.7 billion for the private Gram Vault — the fully regulated Swiss crypto custodian.
Traders, therefore, will benefit from instant and deep liquidity as the Gram tokens will be transferred straight from Gram Vault onto the exchange with the cooperation.
Liquid, a Japanese cryptocurrency exchange, had earlier – before Blackmoon’s listing announcement —claimed that it would become the official Gram tokens sales representative for Gram Asia — however, sources close to Telegram later disputed the claims.
The Japanese crypto exchange had earlier this month revealed the public blockchain escrow wallet address that currently holds all participating Gram token offering’s investor funds.
The token’s value was triple the original $1.33 sale price that was presented in last year’s ICO round.
An arms race for token
Telegram — according to some rumours — is planning to carry out public testing of its Gram cryptocurrency on Telegram Open Network (TON) this month before it launches it on October.
In case that turns out true, Telegram would rival Facebook’s much-anticipated Libra stable coin — which will be integrated into the social media giant’s three wholly-owned messaging services.