TON Blockchain’s The Open Platform Soars to $1B Valuation After $28.5M Funding Round—Telegram’s Crypto Play Just Got Serious

Telegram’s blockchain brainchild flexes financial muscle—investors pile in as TON ecosystem hits unicorn status.

Big money bets on messaging giant’s crypto pivot

The Open Platform—the team turbocharging Telegram’s TON blockchain—just banked $28.5 million in fresh funding. The round catapults their valuation past $1 billion, proving Wall Street’s meme-stock traders aren’t the only ones throwing cash at risky bets.

Messaging apps want in on crypto’s action

While Meta’s Libra collapsed under regulatory scrutiny, Telegram’s TON keeps dodging bullets and stacking wins. The platform’s native token now powers everything from in-app payments to decentralized apps—turning every ‘ping’ into potential profit.

VCs ignore crypto winter, chase messaging gold

Despite Bitcoin’s rollercoaster ride, investors keep pouring millions into chat-based crypto plays. Either they know something we don’t, or they’re banking on retail FOMO to bail them out—again.

• The Open Platform hits a $1 billion valuation after raising $28.5 million to expand TON blockchain adoption.
• TOP secures equity funding to launch TON-based apps in the U.S., EU, and other global markets.
• TOP, Telegram’s blockchain partner, plans to onboard 1 billion users through wallet and app integration.

The Open Platform (TOP), a top developer of TON blockchain-based products and Telegram-integrated applications, has raised $28.5 million in extended Series A equity financing. Announced on July 3, the new investment increases TOP’s value to $1 billion, making it the first unicorn in the TON blockchain ecosystem. 

We’re proud to become the first unicorn in Web3 ecosystem in Telegram, reaching a $1B valuation in the latest equity funding round.

This milestone was made possible thanks to trust of @RibbitCapital and @PanteraCapital.

“This investment supports our long-term strategy to scale… pic.twitter.com/VCUC1TcXTS

According to Fortune, Ribbit Capital led the funding with participation from Pantera Capital, which invests in leading fintech and crypto companies. Moreover, investors bought almost 5% of the company’s stock, indicating a high level of confidence among investors in the company’s strategic direction.

The new round of fundraising brings TOP’s total capital raised to more than $70 million. In addition, the round was entirely equity-based, unlike most blockchain investments, where tokens are issued. The equity-only strategy highlights the firm’s commitment to traditional investment structures. According to the CEO, Andrew Rogozov, the investment will be used to leverage TOP’s strategic initiative to expand blockchain-based products through Telegram’s global user base.

Funding Aims at Expanding Blockchain Adoption Globally

The additional funds obtained will finance TOP’s geographic growth, aiming at key markets such as the United States and Europe. Particular strategies include a regulatory license, a compliance network, and increased security. Such efforts are key to maintaining the sustainable integration of blockchain services into various regional markets.

TOP is already compatible with Wallet in Telegram, the built-in crypto wallet sanctioned by Telegram’s blockchain affiliate TON. The wallet, which is currently operational in Russia and certain regions of Asia, will soon expand its operations to the western areas.

Furthermore, the investment will enable the incubation of new projects on the TON blockchain, including blockchain games, AI-powered applications, NFT marketplaces, and other decentralized finance solutions that integrate seamlessly with Telegram’s interface.

Rogozov highlighted TOP’s strategy of using Telegram’s large global user base to onboard new crypto users directly. TOP will allow millions of users to adopt cryptocurrency more widely by simplifying the blockchain services offered by the messaging platforms.

Institutional Backing Strengthens Telegram’s Blockchain Ecosystem

The Open Platform’s unicorn milestone comes after increased institutional interest in the TON ecosystem. In early 2025, the TON Foundation reported that leading investors such as Sequoia Capital and Benchmark had purchased $400 million of Toncoin, TON’s native token.

Furthermore, the company aims to secure Telegram’s profile as one of the primary channels of mass appeal using crypto while ensuring secure, scalable, and user-friendly blockchain services. The funding indicates support from the international investment community and further shows the rising importance of Telegram’s blockchain movement in the fast-growing digital asset landscape.