Verb Technology, soon rebranded as TON Strategy, will invest $558 million from a private placement to accumulate and stake Toncoin (TON), designating it as its primary treasury reserve asset. The Nasdaq-listed firm’s stock surged 140% to $22.68 on Monday, lifting its market cap above $1 billion. Investors including Kingsway Capital and Vy Capital backed the move, which mirrors MicroStrategy’s Bitcoin strategy.

TON, the native token of The Open Network originally developed by Telegram’s founders, powers Telegram’s ecosystem—handling ad payments, creator rewards, and NFTs. Despite the news, Toncoin fell 6.9% to $3.41 but remains up 24% monthly.

Following the deal’s close, Kingsway founder Manuel Stotz will become Verb’s executive chairman, citing TON’s role as “the currency powering Telegram’s crypto ecosystem” and its staking yield potential.

source: Pavel Durov Channel

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