The Open Platform (TOP) has secured $28.5 million in an extended Series A funding round, achieving a $1 billion valuation and becoming the first unicorn in the TON-based ecosystem within Telegram. This milestone funding round, led by Ribbit Capital with participation from Pantera Capital, brings TOP’s total funding to over $70 million and signals strong investor confidence in blockchain technology integration with Telegram’s massive user base.
The investment was spearheaded by Ribbit Capital, known for its early backing of fintech successes like Coinbase, Nubank, and Revolut. This strategic funding will fuel TOP’s geographical expansion plans across the United States, European Union, and other key regions, aligning with TON Foundation’s global vision.
“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. “By combining TON Blockchain with Telegram’s global reach, we’re building both the infrastructure and the consumer-facing apps needed to onboard a billion users to crypto.”
Building the Telegram crypto ecosystem
The Open Platform has established itself as the driving force behind TON-based innovations within Telegram, developing both core infrastructure and user-facing applications across finance, gaming, and entertainment sectors. Its product portfolio includes Wallet in Telegram (a seamlessly embedded digital asset solution), Tonkeeper (TON’s leading non-custodial crypto wallet), STON.fi (the leading swap dApp on TON), Getgems (TON’s foremost NFT marketplace), Tribute (a creator monetization platform), and Notcoin (a viral Tap-to-Earn game).
Open Platform Reaches 1 Billion Valuation. Image source: Chainwire.
Micky Malka, Founder of Ribbit Capital, emphasized the strategic importance of this investment: “We back teams that reimagine how the world experiences money and technology. The Open Platform’s vision of building an intuitive and open platform that enables a robust digital ecosystem to form within Telegram — a platform used by hundreds of millions — opens a new frontier of opportunities for builders and users on a global scale.”
Institutional interest in TON blockchain
This funding announcement follows growing institutional interest in the TON ecosystem. In March, TON Foundation revealed that several leading investors, including Sequoia Capital, Ribbit Capital, Benchmark, Draper Associates, and others, had acquired $400 million worth of Toncoin, further validating the potential of blockchain integration within Telegram’s ecosystem.
“We’re thrilled to back this exceptional team led by Andrew. The opportunity to support groundbreaking tech and financial products that reach 1 billion people is inspiring,” said Ryan Barney, Partner at Pantera Capital. “We’re excited to collaborate with the TOP team and strengthen our commitment to TON and Telegram’s ecosystems.”
As The Open Platform continues its expansion efforts, the newly secured capital will support significant investments in go-to-market strategies, regulatory licensing, compliance infrastructure, and security enhancements—all critical components for sustainable growth in new jurisdictions and mainstream adoption of blockchain technology through Telegram’s global platform.
Sources:
- Chainwire – https://chainwire.org/2025/07/03/the-open-platform-is-first-unicorn-in-web3-ecosystem-in-telegram-at-1bn-valuation/
