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Blockchain

TONcoin Fund Launches $250M Ecosystem Fund for The Open Network with Support from Leading Exchanges

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Tortola, British Virgin Islands–(Newsfile Corp. – April 11, 2022) – TONcoin Fund will become the first ecosystem fund fully dedicated to supporting founders building on The Open Network. Huobi Incubator, Kucoin Ventures, MEXC Pioneer Fund, 3Commas Capital, Orbs, TON Miners, and Kilo Fund have made a collective initial commitment of up to $250M to support the fund. TON Foundation will provide grants to the ecosystem fund and selected projects. The funds will be deployed as projects are accepted and incubated.

The Open Network is a fully decentralized layer-1 proof-of-stake blockchain compatible with Telegram that was designed to onboard billions of users. It boasts ultra-fast transactions, low fees, easy-to-use apps, and is environmentally friendly.

“The Open Network offers tremendous opportunities to achieve mass adoption of blockchain technology. TON may become the first blockchain network accessible to millions of users thanks to the Telegram integration efforts by the community via in-app bots as well as native interface proposals. TONcoin Fund is very excited to support the first decentralized exchanges, stable coins, NFT projects and other dApps building on TON.” – Benjamin Rameau, Managing Partner of TONcoin Fund

The TON Foundation has a roadmap for the ecosystem to grow and prosper. By recognizing quality teams as Incubation Partners, the Foundation seeks to provide support in a decentralized manner. In turn, these Incubation Partners come together to form ecosystem funds and accelerate the adoption and growth of key applications.

“TONcoin Fund is the first ecosystem fund with Incubation Partners officially recognized by the TON Foundation. We also offer a competitive application process for teams that can demonstrate the ability to foster innovation and accelerate adoption within the TON ecosystem. We are excited for the projects that will start and grow from the TONcoin Fund and intend to fully support in advisory capacity and more.” – Justin Hyun, Head of Incubation at TON Foundation

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TONcoin Fund will support entrepreneurs and developers building on the TON blockchain. This will be through incubation, investments, grants, hackathons, and offering educational materials to the community. Thanks to the support from the TON Foundation and the fund’s in-house expertise in web3 designing and venture capital investing, the TONcoin Fund hopes to contribute to elevating the TON blockchain to its full potential.

“Orbs is super excited to take part in the TONcoin Fund. As a self executed L3 network – Orbs is focused on providing a decentralized service infrastructure to applications running on other blockchains, such as The Open Network. Orbs is a great believer in TON and shares many architectural concepts like infinite sharding. We hope to make valuable contributions to this emerging ecosystem.” – Tal Kol, Orbs Co-Founder

In addition, support from the venture arms of some of the world’s leading crypto exchanges will offer portfolio projects the opportunity to amplify the user reach for portfolio projects and allow them to connect with the industry’s visionaries.

“This synergistic partnership between Huobi Incubator and TonCoin will help empower and mentor emerging Web3 projects, so all users of the Internet will benefit from the innovation put forward by up-and-coming developer talent.” – Jewel Chen, Head of Huobi Incubator

Learn more: https://www.toncoin.fund/

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Contact:
Benjamin Rameau
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120036

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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