Telegram's cryptocurrency infrastructure achieves $1 billion valuation in the open-source arena.
In the ever-evolving world of cryptocurrency, a new player has emerged as a trailblazer in the Telegram blockchain ecosystem. The Open Platform (TOP), a startup founded in 2023 by entrepreneur Andrew Rogozov, has achieved unicorn status after securing $28.5 million in a Series A funding round led by Ribbit Capital. This brings TOP's total funding to over $70 million.
Born from Telegram’s original TON (The Open Network) blockchain initiative, TOP's strategic focus is on expanding blockchain adoption globally. The company has developed key TON ecosystem products such as the Wallet in Telegram, Getgems NFT marketplace, TON Connect protocol, and STON.fi token swap protocol.
TOP's flagship product, Wallet in Telegram, has already gained traction in key regions like Russia and Asia by leveraging Telegram’s massive user base, which exceeds one billion users. The company's resilience and vision have enabled it to quietly build the core infrastructure and applications around Telegram’s blockchain.
Geographical expansion is a strategic priority for TOP, with plans to launch its portfolio of blockchain-based applications beyond its initial markets. The new capital will support the expansion into the United States, European Union, and other key regions, aligning with the global vision of the TON Foundation.
By integrating cryptocurrency services directly into one of the world’s most popular messaging platforms, TOP seeks to onboard mainstream audiences into the crypto ecosystem. Its positioning as a leading app developer on the TON blockchain and its close affiliation with Telegram provide a unique and strategic advantage, attracting top-tier venture capital and underlining investor confidence in the potential to reach a broad, global user base.
Rogozov believes that the exclusive focus on TON by Telegram has created a clearer ecosystem alignment, benefiting all builders in the space. The firm's success over the next 12 months will be deemed successful if it scales real adoption, with millions of users engaging with consumer apps built on TON, directly inside Telegram.
TOP's expansion is driven by three components: product, legal, and infrastructure. The company is planning to expand into the U.S. and Europe this year, with a focus on scaling consumer apps that are deeply embedded into Telegram, and ensuring compliance in the infrastructure and legal categories through regional partnerships.
With its combination of expertise, capital, and understanding of TON and Telegram, TOP is positioned as a leading force in the ecosystem, marking a significant step forward in the mainstream adoption of cryptocurrency.
- TOP, a trailblazer in the Telegram blockchain ecosystem, has successfully expanded its focus beyond its origins, aiming to increase global blockchain adoption with over $70 million in funding.
- Developing key products like the Wallet in Telegram, Getgems NFT marketplace, TON Connect protocol, and STON.fi token swap protocol, TOP seeks to integrate cryptocurrency services directly into one of the world's most popular messaging platforms.
- By leveraging Telegram’s massive user base, TOP has already gained traction in regions like Russia and Asia, and plans to expand into the United States, European Union, and other key regions.
- With its strategic expansion, TOP aims to onboard mainstream audiences into the crypto ecosystem and scale real adoption, attracting millions of users engaging with consumer apps built on TON, directly inside Telegram.
- TOP's success is driven by three components: product, legal, and infrastructure, with a focus on scaling consumer apps deeply embedded into Telegram and ensuring compliance in the infrastructure and legal categories through regional partnerships.
- The company's close affiliation with Telegram and successful fundraising rounds have positioned TOP as a leading force in the ecosystem, marking a significant step forward in the mainstream adoption of cryptocurrency and finance technology.
