MEXC Ventures has made an eight-figure investment in TonCoin and has launched a strategic partnership with the Ton Foundation.
Zug, Switzerland, October 4, 2023, Chainwire
MEXC Ventures, the subsidiary of MEXC global cryptocurrency exchange MEXC, has announced the largest Tier-1 investment the firm has ever made in Open Network. This investment works in conjunction with a strategic partnership with the Open Network (TON) Foundation. This symbiotic partnership represents the shared vision of both companies to reduce barriers to entry and promote global Web3 accessibility.
MEXC Ventures' investment, the largest ever for a layer-one blockchain, is part of MEXC's broader efforts to bolster the growth of the Ton ecosystem. Investment support from MEXC Ventures such as Megaton Finance, Tonplay, Fanzy and Sonnet plans to fund ton-based mini-apps and projects. The MEXC exchange also offers trading services and promotions for ton-based projects listed on their platforms. To further strengthen its commitment to the open network, the MEXC exchange will introduce 0% trading fees for TonCoin and plans to offer a TonCoin collateral service in the near future.
Ton Foundation acts as a bridge, connecting nearly 800 million monthly active Telegram users with Web3 and real estate ownership. The team is committed to enabling more users to access cryptocurrency assets quickly and conveniently by moving TON to Web3 as an easy gateway. With support from MEXC Ventures, Ton Foundation's goal is to encourage the creation of a Web3 ecosystem within the Telegram app – turning the social messenger platform into a high-traffic entry point for easy access to crypto assets.
“In partnership with MEXC, we bring global access to the decentralized Web3 ecosystem in Telegram,” said Justin Yun, director of development at Ton Foundation. “Our foundation is committed to promoting a user-centered experience for the open network community. MEXC's support greatly strengthens our ability to build new tools and services for developers and apps that make crypto feel indistinguishable from social media for users.”
TON's native cryptocurrency, Toncoin, is used to execute smart contracts, use decentralized applications (dApps), and participate in governance on the TON blockchain. In addition, a portion of Toncoin is allocated to the Ton Foundation to encourage and support the development of the ecosystem. To date, the Ton ecosystem offers a wide range of applications, wallets, DeFi protocols, decentralized exchanges (DEXs), games, NFTs, cross-platform bridges, and a community-based, well-established underlying infrastructure.
“This investment underscores MEXC's strong belief in Telegram's development of the Web3 Super-App ecosystem on the Ton Blockchain,” said Steve Yun, President of Ton Foundation. We are confident that the Ton Ecosystem and MEXC will grow together as we build the market cycle for the next bull run.
About MEXC
MEXC is a centralized cryptocurrency exchange that employs high-performance matching technology and occupies a leading position in future trading activities in the crypto industry. With the lowest trading fees in the market, an expert team that provides around-the-clock service responses and a seamless trading experience, MEXC is highly regarded by users in the industry and boasts over 10 million users in over 170 countries worldwide. Since its inception, MEXC has always adhered to the value of “Consumers First”. Customer satisfaction is always a leading criterion. MEXC's commitment to customer satisfaction is the fundamental reason for its wide recognition of service. MEXC Official Website. Register with MEXC to register.
About MEXC Ventures
MEXC Ventures is a comprehensive fund under the MEXC Group, dedicated to fostering innovations in the cryptocurrency field, through strategic investment, M&A, FOF and project incubation. Mexico Ventures supports the concept of “discovering opportunities and growing together” by fully sharing fund resources and providing strong support to projects. The team has $100m+ AUM and 300+ portfolio investments across the US, Singapore, HK. And it includes other regions of the world.
About Ton Foundation
The Open Network Foundation (TON Foundation) is a non-profit organization founded in Switzerland in 2023. The Ton Foundation is 100% community-funded, supporting initiatives that benefit the community and align with the Open Network mission. Learn more at
About Open Network (ton)
The Open Network (TON) is putting crypto in every pocket. By building the Web3 ecosystem with Telegram Messenger, Ton is empowering billions of people to manage their digital identities, data and assets. See more at
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