• The Open Platform raised $28.5 million in an extended Series A round led by Ribbit Capital, reaching a $1 billion valuation.
  • TOP powers key TON-based apps in Telegram, including Wallet, Tonkeeper, STON.fi, Getgems, Tribute, and Notcoin.

The Open Platform (TOP), the leading tech company building on the TON Blockchain within Telegram, has raised $28.5 million in an extended Series A equity round, reaching a $1 billion valuation.

The round was led by Ribbit Capital, with participation from Pantera Capital, bringing total funding to over $70 million.

This milestone marks TOP as the first unicorn in the TON-based Web3 ecosystem.

Accelerating Ecosystem Growth in Telegram

Built on the scalable and decentralised TON Blockchain, TOP is spearheading efforts to bring blockchain to mainstream users through Telegram, which has over a billion users.

The company is behind key products like Wallet in Telegram, Tonkeeper, STON.fi, Getgems, Tribute, and the viral Tap-to-Earn game, Notcoin.

These applications span digital finance, NFTs, creator monetisation, and gaming, all accessible within Telegram’s interface.

TOP’s new capital will be used to support the launch of portfolio companies across the U.S., EU, and other regions, focusing on go-to-market strategy, regulatory licensing, compliance infrastructure, and security enhancements.

This expansion aligns with the TON Foundation’s broader vision of building a global blockchain ecosystem within Telegram.

Investors see strong potential in the merging of messaging platforms and decentralised technologies.

Ribbit Capital, which has previously backed Coinbase, Nubank, Revolut, and Pantera Capital, both highlighted the scale and ambition of TOP’s work.

“This investment supports our long-term strategy to scale the adoption of blockchain-based products by leveraging the power of Telegram as a distribution channel,” said Andrew Rogozov, CEO and Founder of The Open Platform.

TON Foundation has also attracted growing institutional interest, with investors collectively holding $400 million worth of Toncoin as of March, underscoring confidence in the ecosystem’s trajectory.

Edited by Annette George