Bitget and Foresight Ventures Launch $20M TON Ecosystem Fund, MPC Wallet Announced
Fund aims to support early-stage projects on The Open Network (TON) and drive mass adoption of cryptocurrency.
Cryptocurrency platform Bitget and Foresight Ventures announced a $20 million TON Ecosystem Fund to support early-stage projects on The Open Network (TON), amid TON surpassing Ethereum in daily active addresses.
What’s the Significance: The initiative highlights the growing traction of TON, driven by Telegram’s massive user base. [Read more: List of Free Telegram Games with Potential Airdrop]
How it works: The fund will identify and support promising projects within the TON ecosystem, providing liquidity and necessary resources to help them succeed on the Bitget platform.
However: While the fund is a significant step, continuous innovation and support is necessary to maintain momentum and achieve mass adoption.
Key quote:
“Our $20 million fund is a testament to our commitment to supporting projects that will drive the mass adoption of cryptocurrency. We believe in the potential of TON and its ability to create a more equitable future.”
Gracy Chen, Bitget CEO
Chen highlighted the positive feedback loop in the TON ecosystem and reaffirmed Bitget’s commitment to supporting innovative projects. [Read more: Bitget’s New CEO Gracy Chen Aims to Drive Global Expansion]
Moreover: Bitget Wallet also recently launched its Multi-Party Computation (MPC) wallet supporting the TON mainnet, aiming to streamline user access and boost adoption.
- The MPC solution now includes support for the TON and Solana mainnets, in addition to existing support for Bitcoin and various EVM blockchains.
- It allows users to create and import wallets using email, Google, and Apple ID, eliminating the need for mnemonic phrases or private keys.
- Bitget Wallet plans to further enhance its MPC wallet capabilities to support all heterogeneous chains.
What to watch: To support its goals, Bitget launched TONNECT 2024, a major online event for the TON ecosystem, to facilitate user interaction with TON DApps and protocols, lowering the web2-web3 divide.
Worth reading: Previously, Bitget partnered with Sumsub to enhance AI-powered KYC verification, aiming to protect its 25 million global users from deepfake scams with over 99% accuracy.
This article is published on BitPinas: Bitget and Foresight Ventures Launch$20M TON Ecosystem Fund
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