Anchorage Becomes First Qualified Gram Custodian Ahead of Oct. 31 Launch
Helen Partz's original article for cointelegraph.com reduced by 60%
Digital asset custodian of software firm Anchor Labs has stated that it became the first entity qualified to support institutional custody for Telegram's Gram token. Anchorage Trust Company, a wholly-owned subsidiary of California-based Anchor Labs, will be the first entity that will enable institutional investors and organizations to hold Gram tokens at launch on Oct. 31, the company's co-founder and president Diogo Monica announced on Oct.
7.Not registered with the SEC. In the blog post, the firm stated that the services will be offered either through Anchorage Trust Company or Anchorage Hold that is registered as a Money Services Business. Anchorage Trust CEO described two major options for acquiring Gram tokens.
According to Monica, investors will be able to purchase existing Grams on the open market as well as new Grams from the Telegram Open Network Reserve. Citing the TON white paper, the firm also stated that the TON Reserve "Will incrementally increase the price of new Grams with every Gram sold," following an "Exponentially increasing function." The first Gram will be priced at $0.1 and every subsequent Gram will be sold for one billionth more than the previous one, the company added. In late September, Telegram released a wallet for Gram token in the app's alpha version for iOS..
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