Blog

The Open Network (TON), Telegram’s progressive blockchain brainchild, celebrates a major milestone. Announced on October 4th, MEXC Ventures, the funding department of the cryptocurrency alternate MEXC, has poured an eight-figure sum into the undertaking. Moreover, this monetary increase is coupled with a strategic alliance of amplifying international Web3 accessibility and diminishing entry boundaries.

Perks of the Partnership: More than Just Funding

The alliance between MEXC and the TON Foundation is greater than merely financial. Significantly, MEXC’s cryptocurrency platform shall be amplifying its promotional efforts for initiatives grounded in TON. 

Additionally, a TON collateral lending service is on the horizon. Significantly, buying and selling charges for the TON token will quickly be a factor of the previous. As Justin Hyun, TON Foundation’s progress head, remarked,

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

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

With MEXC Ventures’ backing, the TON Foundation’s imaginative and prescient of embedding the Web3 ecosystem seamlessly into the Telegram messenger is evident. Hyun emphasised,

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

TON’s Evolution and MEXC’s Footprint

Pavel Durov, the mind behind Telegram, has consistently highlighted TON’s instrumental function in charting Telegram’s Web3 voyage. However, a distinction is critical. While the TON expertise is the product of an open-source group, Telegram’s direct involvement was curtailed in 2020 due to authorized issues within the US.

MEXC, the centralized cryptocurrency alternate, is not any novice within the crypto area. Founded in 2018 and headquartered in Seychelles, it has its presence marked on platforms like CoinGecko and CoinMarketCap. Trading volumes nearing $600 million every day and licenses in Australia, Estonia, and the US stand as a testomony to its credibility.

As Telegram ventures deeper into the Web3 area, backed by MEXC Ventures, the longer term appears promising. However, as with all technological developments, solely time will actually have this synergy’s impression on international Web3 accessibility.

✓ Share:

Kelvin is a distinguished author specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive evaluation and insightful content material, he has an adept command of English and excels at thorough analysis and well timed supply.

The offered content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.