The Open Network Foundation (TON Foundation) today disclosed over $400M in Toncoin has been purchased from early investors by some of the world’s most influential and forward-thinking venture capital firms focused on blockchain technology. Prominent investors include Sequoia Capital, Ribbit, Benchmark and Kingsway. Vy Capital, Draper Associates, and Libertus Capital are also key backers, alongside CoinFund, Hypersphere, SkyBridge, and Karatage.

TON Blockchain’s decentralized architecture powers one of the fastest, most scalable, and most resilient blockchains within the space. Its robust network capabilities have earned the attention and interest of institutional investors globally. Additionally, TON Foundation’s strategic partnerships provide strong support for the expansion of TON’s ecosystem and have further bolstered its position as an industry leader.

In January, TON Foundation strengthened its partnership with Telegram, which saw TON become the exclusive blockchain for Telegram’s Mini Apps Ecosystem. This partnership enhances support for Telegram’s global user base — which significantly exceeds 1 billion monthly active users — by providing, among other things, the foundational infrastructure for essential financial applications upon which Telegram’s users rely. From seamless payments for goods, services and other applications, TON’s robust blockchain ensures users can access fast, secure, and efficient financial tools within Telegram’s ecosystem.

Capitalizing on a year of major milestones

Over the past year, TON Blockchain has experienced tremendous growth, with active accounts growing from 4 million to 41 million and Toncoin surpassing 121 million unique holders. During this time, the number of Toncoin holders has exceeded the number of wallets holding Bitcoin, and TON apps grew into some of the world’s most-used crypto applications, demonstrating the immense potential of Telegram’s distribution.

Looking ahead, TON Foundation is now setting its sights on onboarding 30 percent of active Telegram users to TON Blockchain by 2028. This will be driven by four key verticals: attracting users through Telegram’s native IP, such as stickers, gifts, and on-chain collectibles; introducing engaging and rewarding multiplayer mini-games; providing DeFi solutions for easy-to-use savings options that offer sustainable returns; and creating practical payment applications that provide real-world utility for crypto holdings.

Quotes from industry leaders

Shaun Maguire, Partner, at Sequoia Capital: “The TON team is the best in the world at the intersection of consumer product thinking and crypto infrastructure. When you combine this with the global distribution of Telegram, we’re very excited to see where they go.”

Micky Malka, Founder, at Ribbit: “Ribbit partners with exceptional teams tackling and solving the world’s biggest problems. TON and Telegram exemplify this, working together to expand financial access globally by coupling the best technology with a seamless consumer experience.”

Peter Fenton, Partner at Benchmark: “Telegram’s user base, which is expected to grow to over 1.5 billion through 2030, creates an unprecedented opportunity in the history of humanity to provide ubiquitous financial flows that have been limited until now to information flows, TON provides the backbone for human-scale democratization of financial activity.”

Tim Draper, Founder of Draper Associates: “I’ve been a long-time believer in the potential of blockchain to disrupt traditional industries and systems. TON’s technology is highly impressive, and its integration with Telegram provides it with a distribution that no other blockchain can match.”

Alex Felix, Co-Founder and Chief Investment Officer at CoinFund: “The TON ecosystem has huge potential energy and a significant distribution advantage, especially in gaming, stablecoin payments and remittances.  As exemplified through our investment in StonFi, CoinFund continues to be bullish on the growth of the TON ecosystem as a whole and the opportunities ahead for the Foundation.”