Over the past few days, it has become known that the Durov brothers have raised $ 850 million from major investors in a first pre-sale for the Telegram token. This emerges from a reporting form to the US regulator SEC. This makes Telegram by far the largest ICO ever conducted, without which the public ICO has already been launched.

Telegram’s ICO is planned in two rounds. Round 1, which has now taken place, was for big investors who had to spend at least $ 20 million to get GRAM tokens in return. For this first round, the goal was $ 600 million. This could, as Bloomberg reported, now be far exceeded with 850 million dollars.

The second round of the ICO is open to all. However, there is no start date yet. Altogether should be taken over both rounds, according to Bloomberg, two billion dollar be taken. The largest ICO to date was that of Filecoin, which has grossed “only” $ 257 million.

Telegram plans to use the revenue to develop a blockchain, which should make the current top dogs Bitcoin and Ethereum considerable competition. The native token should be named GRAM.

In the Telegram app, a crypto currency wallet is to be integrated, with which the GRAM can be transferred and used for payment within the app. In addition, the app should offer a way to exchange other currencies in GRAM.