Flickr/TechCrunch Telegram, the messaging app, is developing a blockchain platform to rival bitcoin and ethereum. It is looking to raise at least $1.2 billion to develop its so-called TON platform and cryptocurrency called Grams. It would be the largest token sale ever. Private messaging app Telegram is planning to gatecrash the cryptocurrency world with a blockbuster ten-figure initial coin offering. The company, which reaches more than 170 million monthly users, is looking to raise at least $1.2 billion from a token sale which would include a private sale set for February 2018 and public sale in March, according to documents seen by Business Insider. Telegram expects to raise $600 million in both sales.