Coinbase Ventures Backs Toncoin in Strategic Move to Tap Telegram’s Web3 Ecosystem

Coinbase Ventures, the investment arm of U.S.-based crypto exchange Coinbase (NASDAQ: COIN), has taken a position in Toncoin ($TON ) — the native cryptocurrency powering The Open Network (TON), the blockchain infrastructure integrated directly into the Telegram messaging platform. The move signals growing institutional interest in TON’s expanding Web3 ecosystem, which leverages Telegram’s global reach of more than 1 billion monthly active users.

Coinbase Ventures Confirms Toncoin Position

The news was announced on Monday via the official #TON Foundation account on X (formerly Twitter), stating:

“While we can’t disclose the size of their position, their support speaks volumes.”

Manuel Stotz, President of the TON Foundation, founder and CEO of Kingsway Capital, and incoming Executive Chairman of TON-focused Verb Technology, confirmed to The Block that Coinbase Ventures purchased the TON tokens directly from Telegram. However, the exact size and terms of the investment remain undisclosed.

A Coinbase Ventures spokesperson told The Block:

“We made a long-term venture investment in TON,”

but declined to reveal when the deal took place, who the tokens were purchased from, or the purchase amount.