Gate.io Backs TON with $10 Million Investment for Web3 Growth

Pavel Durov, TON founder and Telegram CEO

Gate.io has committed a $10 million strategic investment in The Open Network (TON) blockchain, strengthening its partnership with the TON Foundation to boost Telegram-based projects. This collaboration aims to further integrate TON's blockchain technology into the Telegram ecosystem.

The investment will see Gate.io enhancing its role in TON blockchain governance and contributing to its development. New products like a CeFi-driven Telegram mini-app and Gate Wallet within Telegram are also in the pipeline to expand the TON ecosystem.

Gate Group is also taking part in the TON Society’s Hackers League, a global hackathon offering a prize pool of up to $2 million. With participation from 19 cities worldwide, the event is set to drive innovation within the TON community.

Dr. Lin Han, Gate.io’s Founder and CEO, emphasized the potential of the TON ecosystem, citing its large Telegram user base and blockchain efficiency as key factors for the rapid growth of Web3 applications and developers.

Source: Dmitriy Maiorov / BeInCrypto