The Open Network (TON), a decentralized blockchain platform originally designed by Telegram, has secured major funding from the venture arm of the cryptocurrency exchange MEXC. TON has raised an eight-figure investment from MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, and the two have entered into a strategic partnership aiming to promote global Web3 accessibility.As part of the deal, MEXC crypto exchange will provide marketing services and promotion for the TON-based projects listed on their platform. The firm is also set to launch a TON collateral lending service and eliminate trading fees for the TON token. Additionally, MEXC Ventures will continue funding TON-based mini apps and projects like Megaton Finance, TONPlay, Fanzee and Sonet. MEXC and the TON foundation are also discussing potential funding for Wallet on Telegram.With the support of MEXC Ventures, TON Foundation aims to increase the adoption of the Web3 ecosystem within the Telegram messenger. Telegram founder Pavel Durov has already integrated the TON Wallet as a mini-app, allowing users to access coins like TON, Bitcoin and Tether directly from the app’s interface.MEXC Ventures is a subsidiary of the centralized cryptocurrency exchange MEXC, founded in 2018 and registered in Seychelles. Trading nearly $600 million daily, MEX claims to hold licenses in Australia, Estonia and the United States, and claims to serve users in 200 countries. Some people in the crypto community have reported facing certain issues with MEXC, warning users about the risks or using a non-KYC exchange.

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Information	Details
Geography	Global
Countries	🇦🇺 🇪🇪 🇸🇨 🇺🇸
Sentiment	neutral
Relevance Score	8
People	CoinMarketCap, CoinGecko, Justin Hyun, None, Pavel Durov
Companies	MEXC Ventures, Goldman Sachs, Google, AlphaSense, CoinMarketCap, CoinGecko, Telegram, MEXC, Formula E, TON Foundation, Minecraft
Currencies	Toncoin, Megaton Finance, Ethereum, Bitcoin, Tether
Securities	None