Why Major Crypto Firms are Betting $10m on Telegram’s TON

Messaging apps have become the new frontier for cryptocurrency adoption, with platforms like Telegram emerging as gateways for millions of users to access digital assets. Against this backdrop, three major blockchain investors have launched a $10 million development fund to expand the capabilities of TON, the blockchain protocol integrated with Telegram’s messaging service.

The investment comes at a time when messaging platforms are evolving beyond communication tools to become comprehensive digital service providers. Telegram, which processes messages for nearly one billion monthly active users, has positioned itself as a leader in this transformation by integrating blockchain technology through its mini-apps system, allowing users to send cryptocurrency payments and access decentralised services without leaving the platform.

The TON blockchain, originally conceived by Telegram’s founders but now developed independently, has gained traction as a protocol that bridges the gap between traditional messaging and cryptocurrency services. The new funding initiative, led by OKX Ventures, The Open Platform (TOP) and Folius Ventures, aims to accelerate this convergence by supporting developers who can build accessible financial tools for Telegram’s user base.

Strategic investment focus

OKX Ventures, The Open Platform (TOP) and Folius Ventures have structured their Telegram Growth Hub to address key barriers to cryptocurrency adoption. The fund will support projects that simplify user onboarding, develop trading infrastructure and create mini-applications within Telegram's ecosystem.

"We've long recognised the immense potential of the Telegram ecosystem and its choice of TON as its preferred blockchain,” says Jeff Ren, Partner at OKX Ventures, the investment arm of cryptocurrency exchange OKX. "TON's seamless integration with Telegram's user base, coupled with the messaging app's nearly one billion monthly active users, positions the ecosystem for mass adoption.

"This programme represents our commitment to fostering innovation and supporting projects that will shape the future of decentralised applications on Telegram. We're excited to see how developers will leverage this opportunity to create new utilities that cater to Telegram's diverse and expanding user base."

Technical infrastructure development

The development hub aims to build essential infrastructure for cryptocurrency trading and digital asset management within Telegram. Selected projects will receive technical support to develop decentralised exchanges, which enable direct cryptocurrency trading between users and NFT trading systems for digital collectables.

The Open Platform, which provides venture capital and technical support for TON blockchain projects, views the messaging platform as a critical channel for blockchain adoption.

"At TOP, our goal is to empower builders with the tools and resources they need to create impactful, scalable solutions on TON," says TOP's Managing Director, Andrey Klebanov. "By collaborating with OKX Ventures and Folius, we’re further providing developers with both the financial backing and specialized support they need to bring transformative projects to life within Telegram’s thriving Web3 ecosystem."

Asian market opportunity

The involvement of Folius Ventures, a blockchain investment fund focused on the Asia-Pacific region, highlights the particular significance of messaging apps for cryptocurrency adoption in Asian markets. The fund sees Telegram's platform as a key entry point for users in markets where messaging apps serve as primary digital interfaces.

“Adoption through significantly reduced onboarding, onramp, and on-chain friction has been our north star since day one of founding Folius,” says Jason Kam, founder of Folius Ventures. “The impact the TON ecosystem has had on the broader Web3 space is sizable and self-evident, and we look forward to contributing to the case of mass adoption through our support of the ecosystem growth hub programme.”

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