TON Foundation Secures $400M Investment as Telegram’s Blockchain Ambitions Expand

The Open Network Foundation (TON Foundation) has attracted over $400 million in investments from major venture capital firms, reinforcing the growing integration of blockchain technology within the Telegram ecosystem.

Leading investors—including Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere, and Karatage—acquired Toncoin (TON), the native cryptocurrency of the TON blockchain, in what the foundation describes as a strategic move to accelerate ecosystem expansion. However, specific plans regarding fund utilization remain undisclosed.

Initially developed by Telegram’s founders, TON blockchain has since evolved into an independent network, providing the infrastructure for Mini Apps and decentralized services within Telegram. Since January, Toncoin has been the sole cryptocurrency accepted for in-app payments on the platform.

The past year has marked a period of explosive growth for TON, with the number of native accounts surging from 4 million to 41 million. TON Foundation also reports that Toncoin now boasts over 121 million unique holders.

Looking ahead, the foundation aims to onboard 30% of Telegram’s active user base to the blockchain within three years. With Telegram’s total user count projected to surpass 1.5 billion by 2030, investors see immense potential for blockchain-powered applications within the messaging giant’s ecosystem.

The influx of venture capital signals increasing confidence in blockchain technology, particularly as regulatory landscapes in the U.S. and other markets continue to evolve.