Telegram will receive about $1.7 billion from the sale of its tokens

Messaging service Telegram Group Inc., which set a world record for the sale of a new cryptocurrency in February, is set to raise another $850 million in its second ICO round. Investors continue to place orders even after the token price has tripled.

Comments indicate that the ICO is proceeding according to the plans of Pavel Durov, a Russian entrepreneur who developed the Telegram app with his mathematician brother Nikolai in 2013 and now boasts 200 million users worldwide.

Telegram Group Inc., registered in the British Virgin Islands, is gaining popularity among investors around the world who have been shocked by the token market, and despite what many Some of them doubt that Durov will be able to meet their expectations regarding transaction processing at the level of Visa or Mastercard.

The company raised $850 million by selling the rights to a virtual coin called Gram at a price of $0.38 per piece. It plans to raise another $850 million through a second round this month at a price of $1.33 per coin, according to data reported by Bloomberg News. 

Telegram Group Inc. seeks to build a network based on blockchain technology using the Gram currency, which will allow it to process transactions faster than competing networks working with Bitcoin and Ethereum. The documents say that the company is raising funds to create this network, rent servers, increase the number of users and pay operating costs.

According to https://www.bloomberg.com