TON Foundation, the Telegram crypto, has announced its new partnership with HashKey, the company behind the crypto-exchange, to build support for new Web3 projects.
TON Foundation and the partnership with HashKey: Telegram’s crypto expands to Web3
TON Foundation has announced that it has formed a new strategic partnership with HashKey Group, to expand the TON ecosystem (Telegram’s cryptocurrency) in Web3.
TON Foundation has formed a strategic partnership with @HashKeyGroup to boost the #TON Ecosystem, aiming to put crypto and Web3 in every pocket!
What does it entail?
Support for early-stage TON-based projects
— TON
(@ton_blockchain) April 12, 2024
“The TON Foundation has formed a strategic partnership with @HashKeyGroup to enhance the #TON ecosystem, with the goal of bringing cryptocurrencies and Web3 to every pocket! What does this involve? Support for early-stage TON projects; Improving fiat access for @wallet_tg in APAC; Incubation support. And much more… For details, visit this blog post”
Basically, the TON Foundation together with HashKey, the company behind the eponymous crypto-exchange, wants to build a new support for new projects that improve services for digital assets.
This is about expanding the TON ecosystem in Web3, offering support such as consulting, mentorship, and financial support to new projects.
Thanks to the knowledge and resources of HashKey Group, this collaboration opens up new possibilities for both developers and entrepreneurs, especially in the Asia Pacific region, or APAC.
TON Foundation, the Telegram crypto foundation, expands its ecosystem in Web3 starting from Hong Kong
TON Foundation will collaborate with HashKey for the on-ramp and off-ramp of cryptocurrencies on Telegram. One of the goals of the partnership is, in fact, to improve the processes of access (on-ramp) and exit (off-ramp) from the world of cryptocurrencies, through the Wallet service in the messaging app.
Steve Yun, President of the TON Foundation, commented on the new partnership as follows:
“Through this strategic partnership with HashKey Group, we are excited to provide further support to the independent and already influential communities around TON in this region. Led by local teams that have already achieved virality, we look forward to ushering in a new generation of mini-app builders on TON.”
Specifically, the TON Foundation-HashKey Group partnership will focus its initial phase in Hong Kong, describing it as an emerging city of Web3.
To do this, the two companies will need to adapt their expanding ecosystem to comply with local laws and regulations.
Not only that, the success that will be achieved in Hong Kong should lay the foundation for expanding the partnership to other regions, with the goal of providing accessible and decentralized financial services worldwide.
The initiative with 115 million dollars in Toncoin prizes
Recently, the TON Foundation has also made headlines for its new initiative, which offers a total of 115 million dollars in Toncoin prizes, the Telegram cryptocurrency.
This is the ” The Open League ” initiative, of which the first season will be launched on April 1st, 2024.
Basically, the competition is based on KPIs that allow TON projects to win a share of about 15 million dollars in Toncoin. Moreover, users will also be able to earn about 100 million dollars in Toncoin rewards by using TON projects.
At the time of writing, Toncoin (TON) is in eighth place in the crypto ranking, with over 24.6 billion dollars in market cap. Its price has risen by +8% in the last 24 hours, with TON now worth 7.10$.
