The Open Platform (TOP), a leading developer for the Telegram-associated TON blockchain, announced a $28.5 million Series A funding round, achieving a $1 billion valuation. The investment was led by Ribbit Capital with participation from Pantera Capital, acquiring a combined stake of approximately 5%.

TOP is the key developer behind TON’s primary crypto wallet, “Wallet in Telegram,” which is integrated directly into the messaging app for users outside the US and Europe. This positions TOP to drive crypto adoption within Telegram’s massive user base exceeding one billion people.

The new capital will fund expanding the wallet into the US and European markets, ensuring compliance, and incubating other TON-based projects like blockchain games and AI applications. TOP has now raised over $70 million total.

source: TON Community Channel

Keep an eye on the daily Telegram news from OnlyTG.