Bitget partners with Foresight Ventures to launch a $20 million TON ecosystem fund

ChainCatcher news, according to Cointelegraph, Bitget announced a partnership with Foresight Ventures to establish a $20 million TON ecosystem fund aimed at supporting early projects based on the Open Network (TON) and promoting innovation and development within the TON ecosystem.

The establishment of the TON ecosystem fund by Bitget is another significant initiative following the launch of the Telegram Signal Bot in May. The Bitget Wallet, as an on-chain extension of the Bitget ecosystem, has completed integration with the TON mainnet and has also added support for TON Connect, allowing users to connect to TON-related DApps. Additionally, Bitget Wallet has launched a Tap2Earn section, gathering various Tap2Earn projects within the TON ecosystem.

According to Delphi Digital, the growth of the TON ecosystem is attributed to Telegram's massive user base of 900 million, which has led to the number of daily active addresses on TON surpassing that of Ethereum. As per Tether's official transparency page, the authorized issuance of USDT on the TON blockchain has grown to approximately $580 million, making it the sixth-largest public chain for USDT issuance after TRON, Ethereum, Solana, Avalanche, and Omni.