Telegram on Monday announced that it will not integrate the TON wallet with its existing encrypted messaging platform at its blockchain launch.
The company also clarified that the official wallet platform for Gram tokens will act as a stand-alone platform initially and will have no advantage over other third-party wallets for its digital currency.
“At the time of the anticipated launch of the TON Blockchain, TON Wallet application is expected to be made available solely on a stand-alone basis and will not be integrated with the Telegram Messenger service. In this regard, the TON Wallet is expected to compete with any other wallet applications designed and offered by third parties,” the announcement stated.
The company, however, kept the door open of any such integration in the future.
“Telegram may integrate the TON Wallet application with the Telegram Messenger service in the future to the extent permitted under applicable laws and governmental authorities,” the company added.
SEC’s interference disturbing the initial plans
This came amid the resistance faced by the company because of the charges by the United States’ Securities and Exchange Commission (SEC) for selling unregistered securities.
Though addresses to the crypto community in general, the company also stressed that the Gram tokens are not an investment instrument as they can only be used as a mode of exchange in the upcoming blockchain.
“…you should NOT expect any profits based on your purchase or holding of Grams, and Telegram makes no promises that you will make any profits,” Telegram noted.
Forced by the SEC’s lawsuit, Telegram had to postpone the launch of its blockchain from the end of last October till April. Notably, the investors of the tokens also as the company promised to invest another $80 million in its blockchain project.
Meanwhile, the SEC recently approached for a court order alleging that the messaging company is and refused to hand-over the financials of its billion-dollar ICO.
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