The Open Platform (TOP), a key player in the TON blockchain ecosystem connected to Telegram, has reached a $1 billion valuation after closing a $28.5 million Series A funding round.
The investment, led by Ribbit Capital and joined by Pantera Capital, was made entirely in equity—no crypto tokens changed hands.
TOP, based in Abu Dhabi, has become known for building Telegram’s native crypto wallet. With this latest funding, the company is preparing to scale its services into new territories, specifically targeting regulatory-heavy markets like the U.S. and Europe. CEO Andrew Rogozov said that building out legal and operational infrastructure will be a major use of the new capital.
In addition to wallet expansion, TOP plans to invest in blockchain-based games and AI products built on the TON network, further deepening its role in shaping Telegram’s Web3 ambitions.
The funding round reflects renewed confidence in the TON ecosystem, which originally raised $1.7 billion in 2018 but was paused after legal challenges from the U.S. SEC. While Telegram stepped back publicly, TON’s development quietly continued—culminating in the 2023 revival and Telegram’s re-endorsement of the network.
With more than $70 million raised to date, TOP is now positioning itself as a gateway between Telegram’s massive user base and the broader world of decentralized applications.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/ton-wallet-backed-by-pantera-raises-28-5m-for-global-expansion/