The Open Platform (TOP), a core development firm supporting projects on Telegram’s blockchain, has raised $28.5 million in a Series A extension, pushing its total funding to $70 million and securing a $1 billion valuation.
Backed by Ribbit and Pantera, Aiming for Global Expansion
The latest round was led by Ribbit Capital, with strong support from Pantera Capital, enabling TOP to officially achieve unicorn status among The Open Network (TON)-focused startups.
The company plans to expand its presence across the U.S., European Union, and other global regions.
This will involve launching portfolio companies, navigating regulatory licensing, and building infrastructure for compliance and user acquisition in these new territories.
Leveraging Telegram’s Global Reach
Founded by Andrew Rogozov, a former executive at Telegram, TOP is strategically positioned to integrate blockchain solutions directly into Telegram’s vast ecosystem.
“By combining TON blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto,” Rogozov stated.
Telegram’s user base—spanning hundreds of millions—offers a unique distribution channel for blockchain products, including games, wallets, and DeFi tools powered by Toncoin (TON).
TON Ecosystem Shows Strong Growth
TOP’s success reflects growing momentum behind the TON blockchain, which officially launched its mainnet in May 2021. Since then, it has become home to viral Web3 games like:
- Hamster Kombat
- Notcoin
These projects use Toncoin, the native token of the ecosystem, to drive user interaction and rewards.
Toncoin is currently trading at $2.90, with a 24-hour trading volume of $174.8 million and a market cap of $7.2 billion—ranking it the 22nd largest crypto asset.
What’s Next for The Open Platform?
With new capital secured and strategic backing, TOP will now focus on:
- Launching new apps that leverage Telegram’s native crypto infrastructure
- Establishing compliance pathways in major jurisdictions
- Boosting adoption of Toncoin through consumer-facing use cases
TOP’s vision is to become the foundational layer for apps built on TON—driving real-world adoption through seamless integration with Telegram.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.