Telegram

Telegram plans $1.2bn ICO to create native cryptocurrency

Popular secure messaging app Telegram looks set to enter the cryptocurrency space, with plans underway for a major ICO.

The company is planning to raise $1.2bn in total, first with a $600m pre-sale restricted to venture capital backers and close investors, according to TechCrunch. This will be running from January to February on an invitation-only basis. Following the private pre-sale, Telegram is said to be planning a public sale in March, which will allow retail investors to enter. This sale aims to raise a further $600m.