Telegram Plans $1.5 Billion Bond Issuance After $300 Million xAI Deal

Telegram, the crypto-friendly messaging platform, is planning to raise $1.5 billion through a bond issuance. This move comes on the heels of a significant deal where Telegram secured $300 million through a cash and equity agreement to integrate xAI's Grok chatbot into its app. The partnership with xAI, led by Elon Musk, is expected to bolster Telegram's financial standing, with the platform earning 50% of the revenue from xAI subscriptions sold via Telegram.

Pavel Durov, the founder and CEO of Telegram, highlighted the strategic importance of this partnership, stating that it "strengthens Telegram’s financial position." The integration of the Grok chatbot across Telegram's platform is set to occur over a one-year partnership period. Durov also emphasized that user data on Telegram will not be used to train Grok, ensuring the privacy and security of its users.

In addition to the bond issuance, Telegram will use the funds to purchase outstanding debt from a previous bond issue in 2021. The newly issued five-year bonds will offer a 9% yield, attracting significant interest from investors. Citadel, along with existing investors BlackRock and Mubadala, an investment firm owned by Abu Dhabi, will join as bondholders in this $1.5 billion fundraise.

Telegram's recent activities come amidst a backdrop of legal challenges faced by Durov. Last year, Durov was arrested in France on charges related to alleged illicit activities on Telegram, including drug trafficking, child exploitation, and money laundering. Despite these challenges, Durov left the country in March 2025 after being placed under judicial supervision, allowing him to continue leading Telegram from a distance.

The TON Foundation, an independent organization overseeing the growth of the Telegram-focused Layer 1 TON blockchain network, is also making significant strides. The foundation recently hired former Visa executive Nikola Plecas as its vice president of payments, indicating a global expansion in payments. This move aligns with the foundation's goal of enhancing the TON blockchain's capabilities and reach.