TON Wallet Backed by Pantera Raises $28.5M for Global Expansion
The Open Platform (TOP), a key player in the TON blockchain ecosystem connected to Telegram, has reached a $1 billion valuation after closing a $28.5 million Series A funding round.
The investment, led by Ribbit Capital and joined by Pantera Capital, was made entirely in equity—no crypto tokens changed hands.
TOP, based in Abu Dhabi, has become known for building Telegram’s native crypto wallet. With this latest funding, the company is preparing to scale its services into new territories, specifically targeting regulatory-heavy markets like the U.S. and Europe. CEO Andrew Rogozov said that building out legal and operational infrastructure will be a major use of the new capital.
In addition to wallet expansion, TOP plans to invest in blockchain-based games and AI products built on the TON network, further deepening its role in shaping Telegram’s Web3 ambitions.
The funding round reflects renewed confidence in the TON ecosystem, which originally raised $1.7 billion in 2018 but was paused after legal challenges from the U.S. SEC. While Telegram stepped back publicly, TON’s development quietly continued—culminating in the 2023 revival and Telegram’s re-endorsement of the network.
With more than $70 million raised to date, TOP is now positioning itself as a gateway between Telegram’s massive user base and the broader world of decentralized applications.
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