MEXC Ventures Announces Major Investment in The Open Network (TON)
MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, has made a significant investment in The Open Network (TON), marking the largest layer-1 investment the firm has ever made. This investment is part of a strategic partnership between MEXC Ventures and the TON Foundation, with both companies sharing a vision of promoting global Web3 accessibility.
MEXC Ventures’ investment in TON is aimed at supporting the growth of TON’s ecosystem. The firm has already begun supporting TON-based projects such as Megaton Finance, TONPlay, Fanzee, and Sonet, and plans to continue funding other TON-based mini apps and projects. Additionally, MEXC’s exchange will offer marketing services and promotion for TON-based projects listed on their platform.
The TON Foundation serves as a bridge connecting nearly 800 million monthly active Telegram users to Web3 and true asset ownership. With the support of MEXC Ventures, the foundation aims to transform Telegram into a gateway for easy access to crypto assets.
“By working with MEXC, we will bring global access to the decentralized Web3 ecosystem in Telegram,” said Justin Hyun, Director of Growth at TON Foundation. “MEXC’s support significantly strengthens our potential to build new tools and services that make crypto feel indistinguishable from social media for users.”
Toncoin is the native cryptocurrency of the TON blockchain, used for executing smart contracts, utilizing decentralized applications (dApps), and participating in governance. MEXC plans to introduce 0% trading fees for Toncoin and provide a TON collateral lending service in the future.
“This investment underlines MEXC’s strong conviction in TON blockchain in building a Web3 super-app ecosystem on Telegram,” said Steve Yun, President of TON Foundation. “We are confident that the TON ecosystem and MEXC will grow together as we build for the next market cycle of bull runs.”
About MEXC
MEXC is a centralized cryptocurrency exchange known for its high-performance matching technology and leading position in futures trading. With over 10 million users in 170 countries, MEXC provides low trading fees and round-the-clock professional service to prioritize customer satisfaction.
About MEXC Ventures
MEXC Ventures is a comprehensive fund under MEXC Group that supports innovations in the cryptocurrency field through strategic investments, mergers and acquisitions, fund of funds (FOF), and project incubation. With over $100 million assets under management (AUM) and 300+ portfolio investments, MEXC Ventures aims to discover opportunities and foster growth in the industry.
About TON Foundation
The Open Network Foundation (TON Foundation) is a non-profit organization based in Switzerland. It is fully funded by the community and supports initiatives aligned with The Open Network’s mission of promoting Web3 accessibility.
About The Open Network (TON)
The Open Network (TON) aims to bring crypto to billions of people by building a Web3 ecosystem within Telegram Messenger. It offers users the opportunity to own their digital identity, data, and assets.
Hot Take: MEXC Ventures’ Investment in TON Strengthens Web3 Accessibility
MEXC Ventures’ significant investment in The Open Network (TON) demonstrates its confidence in the TON blockchain and its commitment to promoting global Web3 accessibility. Through this partnership with the TON Foundation, MEXC Ventures aims to support the growth of TON’s ecosystem and enable easy access to crypto assets for millions of Telegram users. With the introduction of 0% trading fees for Toncoin and future plans for a TON collateral lending service, MEXC is further empowering its commitment to The Open Network. This investment highlights the potential for TON and MEXC to grow together and contribute to the next market cycle of bull runs.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
