 
 
Disclaimer: The below article is sponsored, and the views in it do not represent those of ZyCrypto. Readers should conduct independent research before taking any actions related to the project mentioned in this piece. This article should not be regarded as investment advice.
The Open Platform has reached a valuation of $1 billion after completing its series A funding with $28.5 million raised. This makes the project the first unicorn in the TON-based ecosystem in Telegram to reach this level.
The funding round led by Ribbit Capital was supported by several top players in the crypto industry, including Pantera Capital. In total, The Open Platform has secured $70 million in this round and the previous one, demonstrating confidence in the project’s ability to lead the growth of crypto on Telegram.
Being built on the TON Blockchain, The Open Platform currently focuses on geographical expansion, which the funding will support. The funding will support the launch of TOP’s portfolio companies across the U.S., EU, and other key regions in line with TON’s global vision.
The funding will target areas such as go-to-market strategies, regulatory licensing, compliance infrastructure, and security enhancements, to ensure sustainable growth and long-term success in these new jurisdictions.
 
Andrew Rogozov, CEO and Founder of The Open Platform, said:
“This supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel. 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.”
The Open Platform is building both core infrastructure and consumer-facing apps across finance, gaming, and entertainment to enhance the growth of the TON ecosystem. Some of the products it has powered include Wallet in Telegram, Tonkeeper, and STON.fi, all of which are making significant contributions to the growth of the TON ecosystem.
This brings blockchain technology into everyday digital experiences, creating a seamless and scalable platform designed for a billion users, which accelerates the mainstream adoption of cryptocurrency. This is also aimed at expanding global access to services and enabling a new generation of builders and developers to build the next wave of consumer dApps.
The TON ecosystem has seen increased institutional interest this year, and the new funding, supported by Ribbit Capital, is a testament to the growing interest. The Open Platform intends to facilitate further growth from now on.
Source: https://zycrypto.com/the-open-platform-becomes-first-web3-ecosystem-in-telegram-to-hit-1-billion-valuation/