The Open Platform has completed a $28.5 million Series A funding round, with Ribbit Capital as the lead investor.

BlockBeats News, July 3rd. According to Fortune, the Telegram ecosystem development platform, The Open Platform, announced the completion of a $28.5 million Series A financing round, with a post-investment valuation of $1 billion. The round was led by Ribbit Capital, with participation from crypto venture fund Pantera Capital. This financing round sold approximately 5% of the equity and did not include any cryptocurrency share. The Open Platform has raised over $70 million in total. TOP is the core developer of Telegram's official blockchain, The Open Network (TON), and its "Telegram Wallet" has been launched for users in Russia, Asia, and other regions. The new funds will be used to expand into the European and American regulatory-compliant markets and to incubate blockchain games and AI applications based on TON.