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Telegram Wallet Developer TOP Hits $1B Valuation in New Funding Round

2025-07-03 16:44:48

Telegram Wallet Developer TOP Hits $1B Valuation in New Funding Round

Main Idea

The Open Platform (TOP), developer of Telegram’s wallet, raised $28.5 million in a funding round, reaching a $1 billion valuation, and aims to expand its crypto wallet services in regulated markets like the U.S. and Europe.

Key Points

1. TOP raised $28.5 million in a funding round led by Ribbit Capital, valuing the company at $1 billion, with no cryptocurrency involved in the deal.

2. The company has raised over $70 million in total across multiple rounds and is focused on expanding its 'Wallet in Telegram' feature into regulated markets like the U.S. and Europe.

3. TON blockchain, originally developed by Telegram, faced SEC legal challenges in 2019 but was later adopted by Telegram as its exclusive blockchain in 2023.

4. Major VCs, including Sequoia Capital and Ribbit Capital, acquired $400 million worth of Toncoin, supporting Telegram’s crypto integration efforts.

5. TOP is developing blockchain tools within Telegram, including TON mini apps, games, and Toncoin payment solutions.

Description

The Open Platform (TOP), developer of Telegram’s wallet, raised $28.5M at a $1B valuation The funding, led by Ribbit and Pantera, will be used to expand the crypto wallet into the US and Europe This follows a broader $400M investment into the TON ecosystem by major VCs like Sequoia The Open Platform (TOP), the main developer building the crypto wallet inside the Telegram messaging app, raised $28.5 million in a new funding round, pushing its valuation to $1 billion. The deal, announced on July 3...

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--3.23%

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