Telegram Rolls Out Early Desktop Crypto Wallet Despite SEC Lawsuit

Telegram, the messaging application firm turned blockchain startup, has rolled out an early work desktop wallet for its “gram” token. 

Clients can now download the test application for MacOS, Windows, and Linux 64 bit on Telegram’s official site and get their keys on the TON testnet. The wallet requests that clients save 24 seed words and make a password for payments, after which the wallet is prepared to get and send grams.

“Now you have a wallet only you control – directly, without middlemen or bankers,” the app says to new clients.

Clients can likewise get testnet grams from a special Telegram bot, requesting that it send from 5 to 20 tokens.

TON, a goal-oriented blockchain venture by Telegram, which secured $1.7 billion in a private token sale in 2018, had been recently slated to launch until October 31. In September, the group rolled out the code for a full node, a validator node, and block explorer, flagging that the undertaking had been headed to launch.

At the start of October, the initiative published the terms of utilization for the wallet application. It requested that the investors to share their public keys utilizing TON’s key generator—as indicated by the developers’ community chat groups, a similar generator is presently incorporated with the app.

Be that as it may, the launch was deferred after Telegram was sued by the SEC, which esteemed grams to be unregistered securities and requested that the court keep Telegram from delivering tokens to investors. Telegram subsequently got an endorsement from investors to delay the launch until April 31, 2020, to win additional time to clear the circumstance with the SEC.

The firm is going to meet the SEC in court on February 18 and 19 next year in New York.