• Telegram’s Pockets developer Open Platform (High) raised $28.5 million at a $1 billion valuation
• Funds led by Ribbit and Pantera shall be used to develop crypto wallets to the US and Europe
• This follows a broader $400 million funding within the ton ecosystem by main VCs like Sequoia

The Open Platform (High) is the primary developer of constructing crypto wallets inside the Telegram messaging app, elevating $28.5 million in a brand new funding spherical, pushing the valuation to $1 billion.

The deal, introduced on July 3, 2025, was led by enterprise capital agency Ribbit Capital, and Pantera Capital can also be concerned.

The brand new capital will present the highest with sources to pursue its most vital aim of increasing its wallets to the US and Europe. High founder and CEO Andrew Rogozov confirmed that the transaction accounted for five% of its shares, with Ribbit profitable 4% and Pantera 1%. The contract didn’t contain cryptocurrency. Andrew Rogozov has additionally revealed luck The corporate presently raises a complete of greater than $70 million in a number of rounds.

Mission: Conquer the Restricted West

TOP is the developer behind Telegram’s Pockets in Telegram, a self-obligatory cryptographic characteristic already embedded in Russia, Asia, and different worldwide markets outdoors of Europe and the US.

With the brand new funding, Rogozov stated the workforce is planning to carry Telegram wallets to Western customers.

“We have to assist all the pieces associated to compliance, operations, and so forth., proper?”

He stated.

“It’s totally costly to construct.”

The TOP additionally goals to put money into new ton-based initiatives, reminiscent of blockchain video games and AI-driven functions. These instruments are run inside the telegram utilizing the Ton blockchain.

The origin of the ton blockchain dates again to SEC funds

The Ton blockchain was initially developed by Telegram in 2018. That yr, Telegram raised $1.7 billion to construct the Telegram Open Community by promoting cryptocurrency to buyers.

In 2019, the Securities and Trade Fee (SEC) filed a lawsuit towards the telegram, alleging a securities regulation that violated a wage enhance. By 2020, Telegram agreed to settle the lawsuit, repaying greater than $1.2 billion and paying a $18.5 million effective.

Telegram retreated from the undertaking after fee, however builders like Rogozov continued engaged on the blockchain. In 2023, Telegram formally selected Ton as its unique blockchain. That very same yr, Rogozov established the top workplace in Abu Dhabi, the place the corporate is predicated.

VCS will get Toncoin and helps Telegram’s crypto integration

In March 2025, the TON Basis revealed that a number of main corporations, together with Sequoia Capital, Benchmark Ventures, Draper Associates and Ribbit Capital, had acquired Toncoin price $400 million, the native cryptocurrency of the Ton blockchain.

These investments adopted Telegram’s efforts to develop its blockchain instruments. High is presently on the coronary heart of those developments as the primary developer of Telegram Pockets.

Associated: Former Tong Basis Director Justin Hyun is launching a brand new definition-on-telegram app.

In a press launch, Pantera Capital Associate Ryan Barney known as Telegram’s giant consumer base the rationale for his or her funding.

Telegram’s Ton Pockets continues to develop beneath the highest

High has constructed a Telegram Pockets and expanded into new areas. This pockets permits Telegram customers to handle their crypto property with out leaving the app.

For now, this pockets is embedded in the primary menu of the supporter nation’s Telegram. The corporate’s subsequent step is to carry the service to extra areas, together with North America and Europe.

Associated: Was Telegram’s crackdown on the world’s largest darkish market too little too late?

High can also be working to assist blockchain instruments inside Telegram. These embrace instruments constructed round Tonmini apps, video games, and Toncoin funds and storage.