Telegram's Wallet Developer TOP Secures $28.5M at $1B Valuation in Strategic Funding Round

The Open Platform (TOP), the core developer behind Telegram's integrated cryptocurrency wallet, has successfully raised $28.5 million in its latest funding round, achieving a notable $1 billion valuation. Announced on July 3, 2025, the investment was spearheaded by Ribbit Capital with participation from Pantera Capital.

According to TOP founder and CEO Andrew Rogozov, this equity-based deal represents 5% ownership, with Ribbit acquiring 4% and Pantera securing 1%. The fresh capital will primarily fuel TOP's strategic expansion into the tightly regulated U.S. and European markets, marking a significant step in the company's growth trajectory.

The funding follows substantial institutional interest in the TON ecosystem, which recently attracted $400 million from prominent venture capital firms including Sequoia Capital. Rogozov confirmed to Fortune that TOP has now raised over $70 million cumulatively across multiple funding rounds.

As the developer of Telegram's native self-custody wallet solution, TOP continues to position itself at the forefront of mainstream cryptocurrency adoption through the messaging platform's massive user base.