The Open Network (TON) Receives Eight-Figure Investment from MEXC Ventures
MEXC Ventures, the investment branch of cryptocurrency exchange MEXC, has made a significant investment in Telegram’s blockchain project, the Open Network (TON). This financial boost comes with a strategic alliance aimed at increasing global accessibility to Web3 and reducing entry barriers.
Benefits of the Partnership
The partnership between MEXC and the TON Foundation goes beyond funding. MEXC’s cryptocurrency platform will promote projects based on TON, and there are plans for a TON collateral lending service. Trading fees for the TON token will also be eliminated. Additionally, MEXC Ventures will support TON-infused mini apps and explore potential funding for a Telegram-based crypto wallet.
Seamlessly Embedding Web3 into Telegram
With the backing of MEXC Ventures, the TON Foundation aims to seamlessly integrate the Web3 ecosystem into the Telegram messenger. The goal is to make cryptocurrency as easy as texting, according to Justin Hyun, TON Foundation’s growth head.
TON’s Evolution and MEXC’s Credibility
Pavel Durov, the founder of Telegram, has emphasized the role of TON in Telegram’s Web3 journey. While Telegram’s direct involvement was limited due to legal issues in the US, TON continues to evolve with community support. MEXC, a well-established centralized cryptocurrency exchange, brings credibility to the partnership with its presence on platforms like CoinGecko and CoinMarketCap.
Hot Take: A Promising Future for TON and Web3 Accessibility
With MEXC Ventures’ support, Telegram’s expansion into the Web3 domain looks promising. However, the true impact of this collaboration on global Web3 accessibility will only be revealed over time.
By
By
By
By
