The Open Platform Hits $1 Billion Valuation After Funding Round
The Open Platform, a company building tools and apps for Telegram’s blockchain network, just pulled in $28.5 million in fresh funding. The Series A round, led by Ribbit Capital, pushes the firm’s valuation to $1 billion—making it the first so-called “crypto unicorn” in Telegram’s ecosystem.
That’s a big deal, at least on paper. But what does it actually mean? Well, for starters, the company now has more firepower to expand, particularly in the U.S. and Europe. They’ve raised over $70 million total so far, and CEO Andrew Rogozov seems confident this latest cash injection will help push crypto further into the mainstream.
Expansion Plans and Market Focus
Rogozov didn’t mince words about where the money’s going. “This year, our immediate focus is expanding into the U.S. and Europe,” he said. The plan hinges on three things: product development, legal compliance, and infrastructure.
On the product side, they’re doubling down on tools built right into Telegram—stuff like payments, games, and creator features. They’ve already rolled out Wallet in Telegram, the first native crypto wallet for the app, along with a handful of other protocols. The idea is to make these tools feel natural for users in different regions, rather than forcing a one-size-fits-all approach.
Then there’s the legal side. Expanding into new markets means jumping through regulatory hoops, and Rogozov acknowledged they’ll need local partners to navigate that. It’s not the flashiest part of the business, but it’s necessary if they want to avoid the kind of crackdowns that have tripped up other crypto projects.
Why Telegram’s Exclusivity Matters
Earlier this year, Telegram made a decisive move—blocking all blockchain integrations except those built on The Open Network (TON). That’s been a mixed bag for developers, but Rogozov thinks it’s ultimately a good thing.
“Telegram’s exclusive focus on TON has created a clearer ecosystem alignment,” he said. In other words, fewer competing chains mean less fragmentation. For The Open Platform, it’s validation of their strategy: building specifically for TON and leveraging Telegram’s massive user base.
And that user base has been growing, thanks partly to viral games like Hamster Kombat and Notcoin. These “tap-to-earn” apps brought a wave of new users to TON, many of whom had never touched crypto before. If The Open Platform can keep that momentum going, Rogozov’s vision of “millions of users engaging with consumer apps built on TON” might not be so far-fetched.
Still, the real test comes in the next year. Funding rounds and valuations are one thing, but actual adoption is another. If people aren’t using these tools, the billion-dollar tag starts to look a little thin. For now, though, The Open Platform seems to have the wind at its back.
