- MEXC Ventures invests an eight-figure amount in Telegram’s TON blockchain project, aiming to magnify global Web3 reach.
- This partnership extends beyond just funds, with MEXC supporting TON-based mini-apps and potential development of a Telegram-integrated crypto wallet.
TON & MEXC: A Partnership Beyond Capital
Telegram’s The Open Network (TON) recently marked an epoch-making event. On October 4th, MEXC Ventures, the investment arm of MEXC cryptocurrency exchange, declared a hefty eight-figure investment in TON. This infusion of funds is married with a broader vision – a collaborative effort towards intensifying Web3’s global accessibility and simplifying its entry thresholds.
A Strategic Collaboration: Amplifying Web3’s Footprint
While MEXC’s financial commitment to TON is undoubtedly commendable, this partnership transcends mere capital allocation. An integral aspect of this alliance will witness MEXC’s platform intensifying its endorsement for projects anchored on TON’s blockchain. In an exciting revelation, a TON-backed collateral lending service is slated for launch, and trading charges for TON tokens are slated to be phased out.
Justin Hyun, the spearhead of growth at the TON Foundation, underlined the uniform fee structure that most cryptocurrencies grappled with on the exchange.
Further solidifying this synergy, MEXC Ventures is setting its sights on TON-integrated mini-apps, and there’s a brewing dialogue concerning investments in a crypto wallet native to Telegram. With MEXC Ventures throwing its weight behind TON, the vision to weave the Web3 ecosystem intricately into Telegram’s messenger platform comes into sharper focus. Hyun encapsulated this sentiment, asserting,
“TON’s integration makes crypto transactions as intuitive as sending a text.”
Navigating Web3’s Landscape: TON’s Journey & MEXC’s Legacy
Telegram’s founder, Pavel Durov, has recurrently emphasized TON‘s pivotal role in Telegram’s transition towards embracing Web3. However, it’s pivotal to demarcate the boundaries. Despite TON’s technology springing from an open-source community, Telegram’s direct participation was impeded in 2020, thanks to legal tussles in the US.
MEXC, the centralized crypto exchange, isn’t a newcomer to the crypto spectrum. With its roots in 2018 and operations centralized in Seychelles, MEXC has left indelible footprints on platforms such as CoinGecko and CoinMarketCap. Its trading volumes, touching the vicinity of $600 million daily, coupled with licenses spanning Australia, Estonia, and the US, fortify its stature in the crypto world.
As Telegram plunges deeper into the Web3 abyss with MEXC Ventures in its corner, the trajectory looks optimistic. But, like all tech innovations, the real litmus test will be time, which will gauge this partnership’s ripple effect on global Web3 integration.
