Latest news with #AndrewRogozov
Yahoo
2 days ago
- Business
- Yahoo
Toncoin Extends Rally as Telegram Launches Integrated TON Wallet for 87M U.S. Users
Toncoin (TON) extended its impressive rally Monday after Telegram began rolling out its TON Wallet to 87 million users across the United States. The update enables seamless crypto transfers and staking directly within the messaging app's interface — with no need for external downloads, extensions, or logins. The TON Wallet, developed by The Open Platform (TOP) and built on the TON blockchain, allows Telegram users to send and receive stablecoins and other digital tokens as easily as sending a message. According to a CNBC report published Tuesday, this marks the first time a self-custodial wallet has been embedded in a mainstream messaging platform for the U.S. market. TOP CEO Andrew Rogozov said the timing reflects a more favorable regulatory climate. 'We started considering the U.S. as a more interesting opportunity for us,' he told CNBC, adding that Telegram's user growth and crypto-savvy audience helped justify the launch. To simplify the user experience, the TON Wallet employs a split-key recovery model. One part of the backup is linked to the user's Telegram account and the other to their email — removing the need for a seed phrase. 'This is how we simplify the whole thing,' Rogozov said, emphasizing the company's goal to remove friction from crypto onboarding. TON Wallet supports staking, token swaps, zero-fee purchases via MoonPay, and on- and off-ramps using debit cards. It also connects to decentralized apps through Telegram's 'Mini Apps' platform, offering a complete in-app Web3 experience. As of publication, according to CoinDesk Data, TON is trading at $3.4121, up 3% over the past 24 hours. The token has gained 12.2% over the past week and 25.6% over the past month, driven by increased usage, platform integration, and bullish investor sentiment. Technical Analysis Highlights According to CoinDesk Research's technical analysis data., TON rallied strongly during the 23-hour trading window from July 21 18:00 UTC to July 22 17:00 UTC, climbing from $3.25 to $3.58 and delivering a 10.15% intraday surge at 13:00 UTC on July 22, supported by 46.32 million units of trading volume The token broke decisively above key resistance near $3.34, expanding its trading range by $0.38 — or 11.84% — as momentum accelerated. In the final hour from 16:39 to 17:38 UTC on July 22, TON dropped from $3.53 to $3.44, shedding 2.54% amid weakening volume and forming lower peaks that signaled a short-term pullback despite strong overall bullish structure. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 days ago
- Business
- CNBC
Telegram's crypto wallet goes live to its 87 million U.S. users
Telegram users in the U.S. can now send, receive, and manage cryptocurrency directly inside the app — no downloads, extensions, or separate logins required. TON Wallet is built into Telegram's interface and is beginning its U.S. rollout this week. It is a self-custodial crypto wallet in which a user controls their own private keys. The service, developed by The Open Platform, which is known as TOP, and built on the TON blockchain, allows users to send stablecoins and other digital tokens to their contacts as easily as sending a message. The company says it's the first time a self-custodial crypto wallet has been embedded into a mainstream messaging platform in the U.S. market. The wallet has already seen broad international adoption, with more than 100 million users globally having activated their wallets in 2024. The U.S. launch had been delayed amid regulatory uncertainty. Andrew Rogozov, CEO of TOP, said that began to shift over the past year. "We started considering the U.S. as a more interesting opportunity for us," Rogozov told CNBC, citing a shift in regulatory conditions and Telegram's user growth. He said there are a lot of crypto users on the platform, and described the wallet as "the fundamental part of this infrastructure," giving users a way to store assets and interact with Telegram's growing ecosystem of Mini Apps. "Our goal, our mission here, is to remove as much friction as possible," Rogozov said. "And this is basically what crypto is trying to solve, especially at the global scale, by removing all the borders." A split-key backup system — one part tied to the user's Telegram account and another to their email — allows for self-custody while simplifying onboarding. "No need to download the wallet, no need to remember the seed phrase," he added. "This is how we simplify the whole thing." TON Wallet supports peer-to-peer transfers, swaps between tokens, staking to earn yield, and zero-fee crypto purchases through a partnership with MoonPay. It also provides on- and off-ramps via debit cards and connects to decentralized apps inside Telegram's "Mini Apps." Telegram formally distanced itself from the TON blockchain after abandoning its own crypto token effort in 2020 under SEC pressure. In the years since, it has continued to integrate TON-based features such as tokenized usernames, stickers, and emojis, and has publicly supported Fragment, a collectibles marketplace built on TON. TON Wallet's expansion into the U.S. could increase competition for platforms like Cash App and Coinbase, particularly if Telegram's crypto-enabled ecosystem gains traction with mainstream users. For now, the wallet avoids directly offering regulated financial services, instead partnering with licensed providers like MoonPay for on- and off-ramps.
Business Insider
03-07-2025
- Business
- Business Insider
The Open Platform is first unicorn in Web3 ecosystem in Telegram at $1bn valuation
The Open Platform raises $28.5M in Series A equity funding round, showcasing investor confidence in TON's ecosystem The equity round was led by Ribbit Capital, a leading fintech and crypto investor, with Pantera Capital also participating. The investment underscores strong confidence in The Open Platform's continued development of the blockchain ecosystem in Telegram, being built on TON. The involvement of prominent investors and the raised capital will support the launch of TOP's portfolio companies across the U.S., EU, and other key regions. The Open Platform, the leading tech company developing TON-based innovations in Telegram, has announced the completion of its Series A and subsequent extension funding rounds, reaching a $1 billion valuation and becoming the first unicorn in the TON-based ecosystem in Telegram. The Open Platform raised $28.5 million in an extended Series A funding round, led by Ribbit Capital, with Pantera Capital also participating. Including this latest raise and previous seed investments, The Open Platform has now secured over $70 million in total funding. These investments demonstrate the confidence that leading investors have in The Open Platform's ability to spearhead the growth of the blockchain ecosystem in Telegram. This ecosystem is being built on TON Blockchain – a fully decentralized and highly scalable blockchain that is the exclusive blockchain partner of Telegram Messenger. The current strategic focus of The Open Platform centers on geographical expansion. The involvement of prominent investors, along with the newly raised capital, will support the launch of TOP's portfolio companies across the U.S., EU, and other key regions — in alignment with TON Foundation's global vision. This expansion will involve significant investment in go-to-market strategies, regulatory licensing, compliance infrastructure, and security enhancements, all aimed at ensuring sustainable growth and long-term success in these new jurisdictions. Andrew Rogozov, CEO and Founder of The Open Platform, said, '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. 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.' The Open Platform is driving the growth of the TON-based ecosystem within Telegram, building both core infrastructure and consumer-facing apps across finance, gaming, and entertainment. Products that The Open Platform has powered include Wallet in Telegram, a digital asset solution seamlessly embedded into Telegram's interface; Tonkeeper, TON's leading non-custodial crypto wallet; the leading swap dApp on TON and the developer of a liquidity aggregation protocol, Omniston; Getgems, TON's foremost NFT marketplace; Tribute, a monetization platform for creators in Telegram; and Notcoin, a viral Tap-to-Earn game, along with many more products. By integrating blockchain technology into everyday digital experience, The Open Platform is creating a seamless, scalable platform designed for a billion users, accelerating the mainstream adoption of crypto — expanding global access to financial services, and enabling a new generation of builders and developers to build the next wave of consumer dApps. This latest investment from Ribbit Capital, which has previously provided early-stage investment to Coinbase, Nubank, and Revolut, amongst many others, and Pantera Capital, is a testament to the potential these investors see in the integration of blockchain technology into a messenger application with over a billion users. Micky Malka, Founder of Ribbit Capital, said, "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.' '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.' TON Blockchain has been the subject of increased institutional interest throughout this year. In March, TON Foundation announced that several leading investors, including Sequoia Capital, Ribbit Capital, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere, and Karatage, have acquired and now hold $400 million worth of Toncoin, signaling growing interest in the TON-based ecosystem in Telegram. The Open Platform (TOP) is the leading tech company developing Web3 innovations in Telegram. TOP is fueling the Telegram economy through both foundational infrastructure and consumer-facing apps. By integrating blockchain technology into day-to-day digital experience, TOP is building a seamless, scalable platform designed for a billion users — accelerating the mass adoption of crypto. Contact
Yahoo
03-07-2025
- Business
- Yahoo
The Open Platform Becomes First TON Unicorn Following $28.5M Raise
The Open Platform (TOP), a provider of tools for developers in Telegram's crypto infrastructure, said it raised $28.5 million in an extended Series A round led by Ribbit Capital, with participation from Pantera Capital. The raise brings TOP's valuation to $1 billion, making it the first unicorn in the TON (The Open Network) ecosystem, the company said. The company is building core infrastructure and consumer-facing apps on TON, Telegram's official blockchain partner, aiming to scale crypto adoption across its global user base. The funding, which pushes TOP's total capital raised to over $70 million, signals growing investor confidence in Telegram's blockchain push. TOP plans to use the capital injection to expand across the U.S., Europe and other markets, investing in compliance, security and go-to-market strategies, it said. Products that it's developed, or which use its tools, include a Telegram-integrated wallet, non-custodial storage, decentralized exchanges, non-fungible token (NFT) marketplaces and games like the viral tap-to-earn hit Notcoin. The Open Platform CEO and founder Andrew Rogozov said the company's goal is to attract a billion users into crypto by leveraging Telegram's distribution power and TON's scalability. The investment follows a wave of institutional interest in TON. Earlier this year, the TON Foundation revealed that investors including Sequoia Capital and Benchmark had acquired $400 million worth of toncoin (TON), the TON blockchain's native in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-07-2025
- Business
- Yahoo
Exclusive: Telegram blockchain startup TOP raises $28.5 million as messaging platform expands crypto footprint
Crypto has a new unicorn. The Open Platform, one of the main app developers on the blockchain chosen by the messaging app Telegram, announced Thursday that it had raised a $28.5 million Series A at a $1 billion valuation. The fintech specialist Ribbit Capital led the round, with participation from the crypto VC Pantera Capital. The raise was for about 5% of equity and did not include allocations of cryptocurrency, The Open Platform founder and CEO Andrew Rogozov told Fortune. The Open Platform, which also refers to itself as TOP, has raised a total of over $70 million across multiple funding rounds, he added. TOP is one of the key companies working on apps for the blockchain called The Open Network, or TON. And that blockchain is closely associated with Telegram, one of the world's most popular messaging apps. It's a complicated mishmash of entities, but the upshot is that TOP is helping spearhead the integration of crypto into an app that boasts more than one billion users, according to Telegram founder Pavel Durov. That reach has VCs salivating. Investors at Ribbit Capital and Pantera pointed to Telegram's large user base in statements included in a press release for TOP's raise. 'The opportunity to support groundbreaking tech and financial products that reach one billion people is inspiring,' said Ryan Barney, a partner at Pantera. And they're not the only ones who are excited. In March, the TON Foundation, another entity tied to the blockchain, said VCs like Sequoia Capital, Benchmark Ventures, Draper Associates, and, of course, Ribbit had accumulated $400 million of TON's cryptocurrency. Just like the mishmash of entities involved in Telegram's chosen blockchain, the origins of TOP, TON, and Toncoin are far from simple. In 2018, Durov raised $1.7 billion after he and Telegram sold a cryptocurrency to support the development of a blockchain called Telegram Open Network, or TON. In 2019, the Securities and Exchange Commision filed to stop what it alleged was an illegal securities offering, and, in 2020, the regulator and Telegram came to a settlement. The messaging app agreed to return more than $1.2 billion to investors and pay an $18.5 million fine. While Telegram seemed to distance itself from crypto, other developers continued to work on the discarded tech behind the scenes, including Rogozov. And in 2023, Telegram anointed a new version of TON as its exclusive blockchain of choice. That same year, Rogozov incorporated TOP, according to a business registry in Abu Dhabi, where the company is based. TOP is the main developer behind TON's most prominent crypto wallet, aptly called Wallet in Telegram. Outside of the U.S. and Europe, Telegram, the app, has integrated the wallet into its main menu and is available to users in Russia, Asia, and other geographies. Rogozov plans to use the new injection of capital to expand the wallet into the U.S. and Europe. 'We need to support everything related to compliance, operations and stuff, right?' he said. 'That's very expensive to build.' He and his team also plan to use the money to incubate other TON-based projects, including blockchain games and AI applications. In TOP's Series A, Ribbit acquired about 4% of the company, and Pantera netted around 1%, Rogozov said. The company's early backers are Dubai investment firm Vy Capital and Dmitry Eremeev, a Russia-born investor. Kingsway Capital and Brevan Howard's Kevin Hu are also backers, according to the Abu Dhabi business registry. Clarification, July 3, 2025: Updated article to clarify that Kevin Hu, not Brevan Howard, is backing TOP. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
