The Open Platform (TOP) recently completed its Series A funding round. They raised a staggering $28.5 million in order to continue developing Telegram-based protocols and applications on The Open Network (TON). This latest investment gives The Open Platform a valuation of $1 billion. It does so with such aplomb that it instantly becomes the first Telegram crypto ecosystem unicorn. The Open Platform plans to use this investment to help support their next stage—geographic expansion into the US and Europe.
Funding and Valuation
The $28.5 million Series A funding round propels The Open Platform into unicorn status, with a valuation of $1 billion. This milestone further highlights the company’s vital role in establishing core infrastructure for the TON ecosystem to flourish inside Telegram.
With the Open Platform’s combined funding totaling over $70 million, the stage is set financially for its aggressive expansion plans. Innovative product development, legal and regulatory compliance, and an internal infrastructure to support rapid expansion are still the foundation of the company’s success.
Expansion Strategy
The Open Platform's expansion strategy is built on three core components: product innovation, legal compliance, and infrastructure development. Our immediate plans are building out presence in the U.S. and Europe to drive widespread adoption of crypto into the mainstream.
"With the support from our recently announced funding round, we’re now positioned to enter new markets and operate in more jurisdictions." - Andrew Rogozov
With the new Open Platform, the goal is to scale consumer applications, thoroughly interoperable with Telegram. This includes payments, games, and creator tools—all customized for local markets in the U.S., EU, and Africa & Asia.
"On the product side, we’re scaling consumer apps that are deeply embedded into Telegram—like payments, games, and creator tools—with local market adaptation in the U.S., EU, and Asia." - Andrew Rogozov
Key Products and Ecosystem
Wallet in Telegram is the messaging app’s first native crypto wallet. It operates in tandem with the TON Connect protocol, which enables users to use external applications through Telegram.
Other products created by The Open Platform include Getgems NFT marketplace and STON.fi token swap protocol. The Open Network (TON) received an exclusive Telegram partnership with its messaging app. As a consequence, it has STOPPED all other blockchain integrations in the app.
"Telegram’s exclusive focus on TON has created a clearer ecosystem alignment, which benefits all builders in the space." - Andrew Rogozov
"For The Open Platform, it has reinforced our strategy of developing products specifically tailored to TON and Telegram’s unique distribution capabilities." - Andrew Rogozov
