Pantera Capital, an influential hedge fund led by Dan Morehead, recently highlighted Toncoin (TON) as its largest investment to date, with the potential to significantly expand the cryptocurrency’s reach around the world. According to Morehead, Toncoin’s fundamental distinction from other blockchain projects is its origins on an already established platform — Telegram.

With more than 900 million monthly active users, Telegram stands out not only as a messaging network, but now also as a bridge to cryptocurrency adoption. 99.999% of blockchain projects are a technological idea that tries to create a community — out of thin air. Telegram is a community that integrates blockchain technology. It just has to be easier,” Morehead said.

Integrating a crypto wallet directly into the Telegram app is seen as a strategic move that eliminates the complexities associated with conventional self-custodial wallets, such as the need to memorize seed phrases. This could theoretically facilitate a smooth transition for messenger users in adopting Toncoin and other digital assets.

Additionally, Telegram’s headquarters in Dubai puts the project in an advantageous position regarding regulatory hurdles, as many other digital asset projects face difficulties in less favorable jurisdictions such as the United States. “What about the other main messengers? Telegram is the only major platform free from regulatory hurdles to incorporate web3 into an open blockchain network,” commented Morehead, drawing a direct comparison with failed attempts by platforms like Facebook Messenger and WeChat.

This optimistic view is reinforced by Telegram’s approach that favors the openness and flexibility of web3, facilitating not only payments but also the creation of permissionless applications. This strategy could not only solidify Telegram’s role as a key enabler in the cryptocurrency ecosystem, but also serve as a model for other platforms looking to integrate blockchain technologies in a meaningful way.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply