The Open Platform Completes $28.5 Million Series A Funding, Led by Ribbit Capital

PANews reported on July 3 that according to Fortune magazine, Telegram ecosystem development platform The Open Platform announced the completion of a $28.5 million Series A financing, with a post-investment valuation of $1 billion. This round was led by financial technology investment institution Ribbit Capital, and crypto venture capital Pantera Capital participated. This financing transferred about 5% of the equity, and did not include cryptocurrency shares. The Open Platform has raised more than $70 million in total.

TOP is the core developer of Telegram's official blockchain, The Open Network (TON). Its "Telegram Wallet" has been opened to users in Russia, Asia and other regions. The company's CEO said that the new funds will be used to expand the European and American compliance markets and incubate blockchain games and AI applications based on TON.