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Underdog crypto exchange Blackmoon says it will be the first to sell Telegram's native token

Image Credit: TASS / Dmitry Feoktistov

Tue, 10 Sep 2019, 20:47 pm UTC

Cryptocurrency exchange Blackmoon is eyeing to be one of the first companies to list Telegram’s upcoming Gram token through a collaboration with Swiss crypto custodian Gram Vault.

Blackmoon is pleased to cooperate with Gram Vault and will make every effort to timely list Grams on our platform. Thereby, our users will have access to the most anticipated cryptocurrency among the first,” Sergey Vasin, Blackmoon’s Chief Operating Officer, said.

The Caymans Island-registered exchange plans to boost liquidity by allowing clients to buy Gram tokens using bank cards, as per a report by the Finance Magnates.

Moreover, Blackmoon will provide users with an opportunity to buy Grams via Bank cards, which, especially in the early months, will be a truly unique offer,” Vasin explained.

Under the deal, Gram tokens will most likely be transferred directly from Gram Vault onto the Blackmoon exchange, ensuring “instant and deep liquidity” for traders.

Once the mainnet is live, Blackmoon will be the only marketplace to sell real grams directly from legitimate Telegram Open Network (TON) investors.

Exchanges that earlier announced selling grams actually listed some kinds of derivatives. We don’t mind that – at the end, they will have to look for liquidity to deliver what they promised to their users, and they will run to buy grams with us with a premium,” Vasin told CoinDesk.

The exchange currently has an unimpressive 3,800 user base, but Vasin is confident that this figure will skyrocket to up to 15,000 after the launch.

Founded in 2017, Blackmoon, which is the crypto division of Cyprus-based Blackmoon Financial Group, may not be a household name in the crypto industry yet. But it has an edge, in part because of its tie with Gram Vault, which is one of the biggest investors of Telegram that participated in its $1.7 billion private initial coin offering. Reports also revealed that Blackmoon may have its connection to Telegram itself, saying that the exchange’s co-founder Ilya Perekopsky is Telegram’s vice president.

The token is slated to be rolled out before its set deadline of October 31, 2019.

As previously reported, Telegram is close to launching its blockchain, TON, after it released TON Testnet explorer and node software on the test network portal.

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  • CryptoMisha
  • 2019.09.12 08:11:25
Where did you get this number? "The exchange currently has an unimpressive 3,800 user base"
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  • RabbitJedi
  • 2019.09.11 07:09:54
The KYC procedure is quite simple, TON listing, credit card deposits. Plus, they are EU regulated. Not bad for underdog.
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