TON Foundation Secures $400 Million Investment to Expand Blockchain Ecosystem

The Open Network Foundation (TON Foundation) has announced a major investment of over $400 million in its native cryptocurrency, Toncoin (TON), from a consortium of venture capital firms.

Leading investors include Sequoia Capital, Ribbit, Benchmark, Kingsway, Vy Capital, Draper Associates, Libertus Capital, CoinFund, Hypersphere, SkyBridge, and Karatage, among others.

TON Blockchain Secures Major Funding as Telegram Integration Fuels Expansion

Toncoin serves as the primary currency for The Open Network (TON), a decentralized layer-1 blockchain designed to support digital payments, decentralized applications (dApps), and network operations. The funding aims to drive further growth, enhance user adoption, and expand product development within the TON ecosystem.

As a result, TON’s user base has grown significantly. Over the past year, the blockchain has recorded more than 40 million active users, with Toncoin holders surpassing 121 million, according to a statement from TON Foundation.

Strategic Plan Targets 30% of Telegram Users by 2028

• Leveraging Telegram’s in-app features such as stickers, gifts, and on-chain collectibles to attract new users.
• Launching multiplayer mini-games with built-in incentives to increase engagement.
• Expanding decentralized finance (DeFi) solutions that provide accessible savings options with sustainable returns.
• Developing real-world payment applications that enhance the utility of cryptocurrency.

By capitalizing on Telegram’s extensive reach and user-friendly interface, TON aims to make blockchain adoption seamless for mainstream audiences.

Beyond direct blockchain expansion, former TON Foundation members Ian Wittkopp and Inal Kardan recently launched TON Ventures, a venture capital fund focused on supporting startups within the TON ecosystem.

The fund, which raised $40 million last August, has invested in more than a dozen early-stage projects, including Catizen, Gamee, and TonUP, with an average investment size of $500,000 per project.