TON Foundation’s $400m funding round signals strong institutional interest

Your foundation has managed to close more than $ 400 million in financing based on tokens with some of the most famous venture capital companies.

According to a press release from March 20 sent to Crypto.News, investors include Sequoia Capital, Ribbit, Paradigm, Benchmark and Kingsway. Financing reflects the increase in institutional interest in tone infrastructure and its ability to evolve financial applications within Telegram ecosystem.

The close relationship of tone with Telegram has become a major growth engine. Earlier this year, Ton became the underlying blockchain of the mini telegram applications ecosystem, allowing developers to create integrated financial services and interactive experiences for the Massive Telegram user base of more than a billion monthly active users.

This connection has generated significant growth that drew the attention of investors. More specifically, the press release notes the number of active accounts on the Ton network has increased from 4 million to 41 million in the past year. Also, the number of tones (TONNE) Holders total 121 million, which is larger than the total number of Bitcoin door carriers.

Your foundation now aims to hire 30% of active users of Telegram – around 450 million people – by 2028. The strategy consists in expanding decentralized financing tools, multiplayer mini -games and integrated payment solutions, while introducing collectibles and chain rewards.

Ahead

The investment of $ 400 million should stimulate the growth of the ton by funding the acquisition of users, developers’ incentives and product development. As the scope of Telegram develops, the position of tone as a skeleton for financial services within the platform could consolidate its role as a major actor in the blockchain space.

Investors who participated in funding expressed strong confidence in the tone growth trajectory and its ability to take advantage of the Telegram scale.

“The Ton team is the best in the world at the intersection of consumer products and cryptographic infrastructure. When you combine this with the world distribution of Telegram, we are very delighted to see where they are going,” said Shaun Maguire, partner of Sequoia Capital.