According to Fortune, The Open Platform (TOP), the main app developer for Telegram's blockchain project TON, raised $28.5 million in a Series A round, valuing the company at $1 billion. Led by Ribbit Capital with participation from Pantera Capital, the round involved 5% equity financing without cryptocurrency allocation. TOP, developer of TON's primary wallet, Telegram Wallet, plans to use the funds to expand into the U.S. and European markets and incubate blockchain games and AI applications.