KuCoin Ventures, the venture arm of the Seychelles-registered crypto exchange KuCoin, has announced that it will be providing grants to The Open Network (TON) blockchain platform. The initial grant will be for $20,000 to support the growth and expansion of the TON ecosystem.
The funding will assist TON ecosystem projects, including five payments or game finance (GameFi) platforms, research and development efforts, community-building, marketing activities, and incubation initiatives such as the TON Bootcamp.
Ian Wittkopp, the head of the accelerator at TON Foundation, expressed gratitude for the grants from KuCoin, stating that it will help support real-world blockchain solutions in payments and gaming within the TON ecosystem. He added that KuCoin Ventures’ efforts align with TON’s vision of a more accessible and decentralized digital future.
Alicia Kao, managing director of KuCoin, emphasized the belief in TON’s potential in the blockchain industry, stating that the strategic alliance aligns with their mission of promoting further development of the crypto and blockchain industry through closer cooperation.
A KuCoin spokesperson mentioned that the partnership is just the beginning and that they plan to leverage the collaboration for deeper cooperation and communication. They also expressed their aspiration for the joint effort to serve as a motivating example, spurring further similar ventures.
In addition to supporting the expansion of the TON ecosystem, KuCoin aims to replicate its success with other blockchain collaborations to facilitate the transition of cryptocurrency from a niche interest to mass adoption.
KuCoin Ventures has previously invested in projects such as the decentralized infrastructure POKT, nonfungible token (NFT) platform OVO, and decentralized finance (DeFi) lending protocol Sturdy.
Notably, TON has also been actively forging partnerships with other crypto players, including a recent eight-figure investment from MEXC Ventures and a partnership with Web3 investment firm Animoca Brands.
