The Open Platform (TOP) Raises $28.5M to Scale Telegram’s Web3 Vision

The Open Platform (TOP) is a blockchain development company focused on building infrastructure and applications for the TON (The Open Network) blockchain, closely integrated with Telegram, the popular messaging platform with over 900 million monthly active users. TOP serves as the core developer of Telegram’s official wallet and is a key contributor to TON’s ecosystem, which aims to deliver fast, scalable, and user-friendly blockchain solutions.

TOP’s flagship offerings include the Telegram Wallet, a non-custodial crypto wallet embedded within the Telegram app, and initiatives to support decentralized applications (dApps) in areas like gaming, AI, and financial services. By leveraging Telegram’s massive user base, TOP enables seamless crypto transactions, such as buying, storing, and trading digital assets, directly within the messaging platform.

On July 3, 2025, TOP announced a successful Series A funding round, raising $28.5 million at a $1 billion valuation. The round was led by Ribbit Capital, a prominent fintech-focused venture capital firm, with participation from Pantera Capital, a leading blockchain investment fund. This brings TOP’s total funding to $70 million, following earlier seed rounds. Notably, the investment was purely equity-based, with no token issuance involved, signaling strong investor confidence in TOP’s long-term vision. The funds are earmarked for global expansion, accelerating development of TON-based applications, and enhancing AI and gaming integrations within the Telegram ecosystem. TOP took to social media to share news about this investment & valuation:

Since its inception, TOP has been pivotal in advancing TON’s adoption and functionality:

• Telegram Wallet Development: TOP has enhanced the Telegram Wallet, enabling users to manage cryptocurrencies like Toncoin ($TON) and Bitcoin, purchase crypto with fiat via P2P markets, and interact with TON-based dApps. The wallet’s integration into Telegram’s interface has driven significant user adoption.

• Ecosystem Growth: TOP supports TON’s ecosystem by developing infrastructure for mini-apps, such as games and financial tools, accessible directly in Telegram. Projects like Notcoin, a tap-to-earn game, and Hamster Kombat have garnered millions of users, showcasing TOP’s role in scaling viral dApps.

• Strategic Partnerships: TOP collaborates with Telegram and TON Foundation to align development efforts. Its partnership with Ribbit Capital and Pantera Capital in the recent funding round strengthens its financial and strategic backing.

• Global Reach: With Telegram’s near-billion-strong user base, TOP is expanding its footprint in regions like Asia, Africa, and Europe, targeting underserved markets for crypto adoption.

TOP’s recent funding positions it to accelerate TON’s growth and solidify Telegram’s role in Web3. The funds will support TOP’s efforts to expand TON’s reach, particularly in emerging markets where Telegram is a dominant messaging platform. This includes localizing wallet services and dApps. With Telegram’s user base, TOP aims to onboard millions to crypto through user-friendly tools, potentially rivaling platforms like Solana or Binance Smart Chain.

TOP plans to develop AI-driven features and gaming dApps, capitalizing on trends like play-to-earn (P2E) games. Successes like Notcoin indicate potential for viral adoption, which could drive $TON’s utility.

If TOP successfully leverages Telegram’s user base and scales its dApp ecosystem, $TON could see increased demand, potentially pushing its price toward $10–$12 by late 2025. However, market volatility and regulatory risks remain key factors to watch.