The Open Platform raises $28.5 million in Series A funding, led by Ribbit Capital

According to Fortune magazine, The Open Platform, a Telegram ecosystem development platform, announced the completion of $28.5 million in Series A funding, with a post investment valuation of $1 billion. This round is led by Ribbit Capital, a fintech investment firm, with participation from Pantera Capital, a cryptocurrency venture capital firm. This financing sale involves approximately 5% equity and does not include cryptocurrency shares. The Open Platform has raised over $70 million in cumulative financing. TOP is the core developer of Telegram's official blockchain, The Open Network (TON), and its "Telegram Wallet" has been opened to users in Russia, Asia, and other regions. The CEO of the company stated that the new funds will be used to expand the compliance market in Europe and America, and incubate blockchain games and AI applications based on TON.