The Open Platform Becomes First TON Unicorn Following $28.5M Raise

The Open Platform (TOP), a developer tool provider for Telegram's crypto infrastructure, has secured $28.5 million in an extended Series A funding round. Ribbit Capital led the investment, with participation from Pantera Capital, propelling TOP's valuation to $1 billion—the first unicorn in The Open Network (TON) ecosystem.

TOP focuses on building Core infrastructure and consumer apps atop TON, Telegram's official blockchain partner, aiming to drive mass crypto adoption. The fresh capital, bringing total funding to over $70 million, underscores growing institutional confidence in Telegram's blockchain ambitions. Expansion into U.S. and European markets will prioritize compliance, security, and go-to-market strategies.

Notable products leveraging TOP's tools include Telegram-integrated wallets, decentralized exchanges, and viral games like tap-to-earn sensation Notcoin. "Our mission is to onboard a billion users by combining Telegram's distribution with TON's scalability," said CEO Andrew Rogozov. The deal follows recent TON investments from Sequoia Capital and Benchmark.