The Open Network (TON) has received funding from renowned cryptocurrency venture capital firm Pantera Capital, which hasn't released the exact amount. As TON continues to gain popularity among the sizable user population of the Telegram chat network, this investment represents a noteworthy milestone.

Pantera Capital's action demonstrates the increasing interest from well-known investors. The potential of emerging blockchain technology to transform several industries is becoming more widely acknowledged.

An explanation of Pantera Capital's recent entry into TON

The company, which oversees assets worth over $5 billion, views TON's partnership with Telegram as a critical first step in popularising cryptocurrencies. Telegram's recent adoption of ad revenue-sharing underscores the network's increasing usefulness.

This functionality illustrates the potential for widespread adoption of the platform using the Toncoin (TON) token. BeInCrypto previously reported that the platform’s revenue-sharing system allows channel owners to earn 50% of advertisement

Telegram boasts an impressive monthly active user base of over 900 million. Indeed, the number provides a promising environment for TON’s expansion and development.

“We believe the TON network is still in its early stages, and we are excited to witness the adoption of its ecosystem and new features by the Telegram user base,” the firm said.

With the addition of new features including Tether (USDT) stablecoin transactions, the messaging behemoth has improved its platform by enabling users to make purchases and payments with the TON token. TON announced its integration with stablecoin issuer Tether before to receiving funding from Pantera Capital.

Tether extended its stablecoin services to include XAUT and USDT on the TON network. Furthermore, the developers of TON have pledged $5 million in TON tokens to encourage consumers to embrace a revolutionary form of identity verification that scans the user's hand.

The price of TON's token significantly increased after the news. TON has increased by 12.45% over the past day to trade at $5.39 as of this writing.