Pantera Capital has reportedly expanded its investment in The Open Network (TON), an action driven by the latter’s affiliation with the renowned messaging service, Telegram. Pantera Capital remains optimistic as Telegram boasts near 900 million active users each month, which aligned with TON, could present a massive crypto horizon, permeating its existing user base.
In April, Telegram’s election to integrate TON into its service was a promising move, placing it on track to be a considerable crypto network. TON’s advanced blockchain structure, known for its superior performance and scalability, coupled with its user-friendly wallet, were highlighted in Pantera’s affirmation.
Furthermore, TON ushers in convenient trading of assets like cryptocurrencies, stocks, and equities via mini-apps on Telegram, such as BonkBot and StormTrade. Moreover, Telegram’s choice to diversify revenue options by offering ad revenue sharing and marketable emojis, custom usernames, and virtual phone numbers generates potential new growth avenues.
The preceding attempt to integrate TON with Telegram was halted by the United States Securities and Exchange Commission, but the recent resurgence of this partnership marks a significant accomplishment. This development places Telegram as the only primary messaging service to successfully incorporate Web3. In contrast, other platforms like Messenger and WeChat have faced regulatory barriers or showed limited progress.
While Pantera Capital manages an impressive $5.2 billion spread across four funds and announced the creation of a fresh $1 billion fund in April, specific investment details in TON remain undisclosed at the time of writing.