TON's 8-Figure Boost from MEXC Aims to Supercharge Telegram

The Open Network (TON), Telegram’s innovative blockchain brainchild, celebrates a significant milestone. Announced on October 4th, MEXC Ventures, the investment branch of the cryptocurrency exchange MEXC, has poured an eight-figure sum into the project. Moreover, this financial boost is coupled with a strategic alliance of amplifying global Web3 accessibility and diminishing entry barriers.

Perks of the Partnership: More than Just Funding

The alliance between MEXC and the TON Foundation is more than merely monetary. Significantly, MEXC’s cryptocurrency platform will be amplifying its promotional efforts for projects grounded in TON.

Additionally, a TON collateral lending service is on the horizon. Significantly, trading fees for the TON token will soon be a thing of the past. As Justin Hyun, TON Foundation’s growth head, remarked,

“The previous cost was the same for most cryptocurrencies on the exchange.”

Furthermore, the collaboration will see MEXC Ventures extend its support to TON-infused mini apps. Concurrently, discussions about potential funding for a Telegram-based crypto wallet are underway.

With MEXC Ventures’ backing, the TON Foundation’s vision of embedding the Web3 ecosystem seamlessly into the Telegram messenger is clear. Hyun emphasized,

“With TON on Telegram, crypto becomes as easy as texting.”

TON’s Evolution and MEXC’s Footprint

Pavel Durov, the brain behind Telegram, has consistently highlighted TON’s instrumental role in charting Telegram’s Web3 voyage. However, a distinction is necessary. While the TON technology is the product of an open-source community, Telegram’s direct involvement was curtailed in 2020 due to legal complications in the US.

MEXC, the centralized cryptocurrency exchange, is no novice in the crypto arena. Founded in 2018 and headquartered in Seychelles, it has its presence marked on platforms like CoinGecko and CoinMarketCap. Trading volumes nearing $600 million daily and licenses in Australia, Estonia, and the US stand as a testament to its credibility.

As Telegram ventures deeper into the Web3 domain, backed by MEXC Ventures, the future looks promising. However, as with all technological advancements, only time will truly have this synergy’s impact on global Web3 accessibility.

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

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