TOP Wallet's $28.5 Million Boost Sets Sights on U.S. and European Launch
TOP serves as the core developer for Telegram's official blockchain, The Open Network, and is responsible for creating and maintaining the Telegram Wallet, which facilitates peer-to-peer transfers within chats. The company will channel its new funds into market expansion and product development, aligning with its long-held strategy of leveraging Telegram's user base—now over a billion monthly active users—to advance the blockchain ecosystem.
Ribbit Capital led the round, acquiring approximately 4–5% of TOP's equity. Other notable participants included Pantera Capital, reinforcing investor confidence in TON's growth potential. The funding arrived without any sale of cryptocurrency tokens, emphasising that the stake was purely equity-based.
ADVERTISEMENT
Since Telegram integrated TON in 2022, the ecosystem has witnessed rapid uptake. Metrics show active TON accounts rising from roughly 4 million to over 41 million, with more than 121 million unique Toncoin holders. Daily on-chain transactions surged from approximately 100,000 to 1.2 million, while total value locked has exceeded US $350 million. These figures underscore user engagement and the ecosystem's expanding financial activity.
TOP's forthcoming initiatives include incubating blockchain-native games—both multiplayer and mini-app formats—that operate entirely on the TON chain. They will use Telegram's Mini‑App infrastructure, which is already adopted by over half a billion users. One such example is the viral 'Hamster Kombat' game, which has drawn over 300 million players and helped introduce mainstream audiences to blockchain functionality.
AI-driven applications are another priority. TOP is developing tools and platforms that integrate machine learning models directly into TON-based environments, enabling chat-integrated utilities—such as fraud detection, financial analytics, and smart assistants—without departing the Telegram interface.
Regulatory headwinds in the U. S. and Europe will present challenges. The SEC previously halted Telegram's launch of its native token, Gram, in 2020, leading to a refund and legal settlement. Now guided by Maximilian Crown—TON Foundation's newly appointed CEO with regulatory and compliance experience—TOP aims to navigate these complex legal environments. Crown's background at MoonPay, where he oversaw U. S. and European licensing, equips the project with added expertise as it seeks entry into compliant markets.
Support from both traditional and crypto-focused investors reflects strong market confidence. Alongside Ribbit and Pantera, unicorn‐backed VCs such as Sequoia, Benchmark, and Kingsway have previously invested over $400 million in Toncoin, affirming institutional belief in TON's role as Telegram's blockchain layer.
TOP's strategy reflects a broader shift within Web3—pursuing real-world use cases embedded into existing digital platforms. Using Telegram's 1 billion+ user base, BOTs, wallets, mini-apps, and secure messaging infrastructure, TOP aims to drive mass crypto adoption while sidestepping consumer-level friction.
Analysts note that TOP's equity‑only raise is distinctive; contrast it with token sales that often involve community risk. By focusing on equity, TOP offers investors upside across its product stack—including wallets, DeFi tools, games, and AI utilities—without diluting with token allocation.
Upcoming milestones include launching its U. S. and European operations before year‑end, unveiling its first wave of blockchain‑native games, and beta‑testing AI‑enhanced wallets and utility apps. With a valuation of $1 billion and deepening partnerships, TOP is well positioned to define Telegram's blockchain strategy beyond financial services into entertainment and artificial intelligence.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
an hour ago
- Al Etihad
Stocks and dollar dip as Trump's spending bill passes, trade deal deadline nears
4 July 2025 15:21 LONDON (REUTERS)Stocks slipped on Friday as US President Donald Trump got his signature tax cut bill over the line and attention turned to his July 9 deadline for countries to secure trade deals with the world's biggest dollar also fell against major currencies with US markets already shut for the holiday-shortened week, as traders considered the impact of Trump's sweeping spending bill which is expected to add an estimated $3.4 trillion to the national pan-European STOXX 600 index fell 0.8%.US S&P 500 futures edged down 0.6%, following a 0.8% overnight advance for the cash index to a fresh all-time closing peak. Wall Street is closed on Friday for the Independence Day said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on exports to the United States, a clear shift from earlier pledges to strike scores of individual deals before a July 9 deadline when tariffs could rise are "now just waiting for July 9," said Tony Sycamore, an analyst at IG, with the market's lack of optimism for trade deals responsible for some of the equity weakness in export-reliant Asia, particularly Japan and South the same time, investors cheered the surprisingly robust jobs report on Thursday, sending all three of the main US equity indexes climbing in a shortened session."The US economy is holding together better than most people expected, which suggests to me that markets can easily continue to do better (from here)," Sycamore the close, the House narrowly approved Trump's signature, 869-page bill, which averts the near-term prospect of a US government default but adds trillions to the national debt to fuel spending on border security and the military. Trade the Key Focus in Asia Trump said he expected "a couple" more trade agreements after announcing a deal with Vietnam on Wednesday to add to framework agreements with China and Britain as the only successes so Treasury Secretary Scott Bessent said earlier this week that a deal with India is close. However, progress on agreements with Japan and South Korea, once touted by the White House as likely to be among the earliest to be announced, appears to have broken US dollar index had its worst first half since 1973 as Trump's chaotic roll-out of sweeping tariffs heightened concerns about the US economy and the safety of Treasuries, but had rallied 0.4% on Thursday before retracing some of those gains on of 1100 GMT it was down 0.1% at euro added 0.2% to $1.1773, while sterling held steady at $ US Treasury bond market is closed on Friday for the holiday, but 10-year yields rose 4.7 basis points (bps) to 4.34%, while the 2-year yield jumped 9.3 bps to 3.882%.Gold firmed 0.4% to $3,336 per ounce, on track for a weekly gain as investors again sought refuge in safe-haven assets due to concerns over the US's fiscal position and tariffs. Brent crude futures fell 64 cents to $68.17 a barrel, while US West Texas Intermediate crude likewise dropped 64 cents to $66.35, as Iran reaffirmed its commitment to nuclear non-proliferation. Stock Markets Continue full coverage
TECHx
2 hours ago
- TECHx
UiPath Names David Popovici Global Ambassador
Home » Tech Value Chain » Global Brands » UiPath Names David Popovici Global Ambassador UiPath, agentic automation, has announced Romanian Olympic swimming champion David Popovici as its new Global Ambassador. The company revealed that Popovici will attend and speak at several UiPath events worldwide. The four-year partnership will support his preparation for major European and international swimming competitions, including the 2028 Summer Olympic Games in Los Angeles. David Popovici, a freestyle specialist born in Bucharest, gained global attention at the 2022 World Championships. At just 17, he became the first male swimmer in 49 years to win both the 100m and 200m freestyle events at the same championship. He also became the second-youngest swimmer to win the men's 200m world title. In the same year, Popovici won gold in both freestyle events at the European Championships. He broke the 100m freestyle world record and set a new junior record in the 200m. In 2024, Popovici improved on his fourth-place finish from the 2021 Tokyo Olympics. He won gold in the 200m freestyle and bronze in the 100m at the Paris 2024 Olympic Games. Currently, he is training for his third consecutive Olympics and will next compete at the Singapore 2025 World Aquatics Championships. UiPath Co-Founder and CEO Daniel Dines commented on the partnership, saying it reflects the synergy between human excellence and technological innovation. 'What makes David a champion isn't just raw talent it's his ability to bring together every element that drives excellence,' Dines stated. He compared Popovici's precision, discipline, and perseverance to UiPath's vision of integrating people, AI agents, and robots through agentic orchestration. Popovici also shared his thoughts on the collaboration. He highlighted UiPath's commitment to innovation and global impact. 'UiPath is a place where innovative ideas are supported,' said Popovici. 'It feels natural to partner with a strong brand that has stayed true to its roots.' The company also announced that between September 29 and October 1, 2025, it will host the first edition of UiPath FUSION, a high-tech event for the global UiPath community. Popovici will join CEO Daniel Dines on stage at the event. Key highlights: Popovici will represent UiPath at global events for four years. He aims to compete in the 2028 Olympics and 2025 World Aquatics Championships. UiPath continues to align its brand with top global talent to showcase its values of innovation, discipline, and excellence. Image Source: Wikipedia
Dubai Eye
3 hours ago
- Dubai Eye
French air traffic controllers' walkout disrupts early summer travel
A walkout by French air traffic controllers to protest against staff shortages and ageing equipment forced airlines to cancel hundreds of flights on Thursday, just as the summer season gets under way. The strike impacted operations at airports across the country, including Paris' Roissy Charles de Gaulle airport, one of Europe's busiest hubs, and is due to run into a second day on Friday. Lobby group Airlines for Europe said more than 1,500 flights would be cancelled over the two days, impacting nearly 300,000 travellers. Budget airline Ryanair said it had cancelled 468 flights and expected the number to keep rising. "Once again European families are held to ransom by French air traffic controllers going on strike," Ryanair CEO Michael O'Leary said. "It makes no sense and is abundantly unfair on EU passengers and families going on holidays." France's civil aviation agency DGAC asked airlines to cut one in four flights in and out of Paris airports and almost half of flights out of the capital on Friday. Elsewhere, airlines were asked to reduce flights by 30 per cent-50 per cent, with the south hit particularly hard. Air France, France's largest airline, said it had adapted its flight schedule, but that it was maintaining its full long-haul flight schedule. EasyJet said it was cancelling 274 flights over Thursday and Friday. Lufthansa also reduced its schedule for the two days, affecting some flights in and out of Nice, Paris, Marseille, Lyon and Montpellier airports. IAG-owned British Airways was using larger aircraft to mitigate disruption. UNDERSTAFFING, OLD TECHNOLOGY The strike coincided with the start of the European summer holidays, one of the busiest travel periods of the year. France's second-largest air traffic controllers' union, UNSA-ICNA, said its members were striking over persistent understaffing, outdated equipment and a toxic management culture. Another union, USAC-CGT, said the DGAC had failed to comprehend the frustration felt by controllers. "The DGAC is failing to modernise the tools that are essential to air traffic controllers, even though it continues to promise that all necessary resources are being made available," UNSA-ICNA said in a statement. "The systems are on their last legs, and the (air traffic control) agency is constantly asking more of its staff to compensate for its difficulties," it added. The DGAC did not immediately respond to a request for comment on the trade unions' concerns. Their complaints echo grievances expressed by air traffic controllers in the United States over antiquated infrastructure, dramatic staffing shortfalls and failing technology. French Transport minister Philippe Tabarot called the unions' demands unacceptable. French air traffic control had proven to be one of the weakest links in Europe's ATC network, posting some of Europe's worst delay records so far this year, Airlines for Europe said. Ryanair's O'Leary urged the European Commission, the European Union's executive arm, to reform EU air traffic control services to ensure adequate staffing at peak periods and to protect overflights - those that pass over a country or region without landing there - during national strikes.
