The TON Foundation has entered a strategic partnership with HashKey Group to further its goal of making its crypto and Web3 wallet available to everyone. The Foundation announced this in a social media post on Friday, April 12.
The Foundation, which oversees the development of The Open Network (TON) blockchain, collaborated with HashKey Group, a Hong Kong-based entity focused on financial and digital assets, to expand fiat on- and off-ramps for its Telegram crypto wallet users in the Asia Pacific region (APAC).
Notably, HashKey has been growing its presence in the Asia Pacific region, as it co-hosted the Web3 Festival conference earlier this week in Hong Kong. Before now, the group obtained regulatory approval to offer crypto trading services in the region, and it was one of the first to do so after the region’s new crypto-focused laws.
HashKey Group also announced the partnership in a statement on its website. According to the statement, the two firms share a similar commitment to incorporating cryptocurrency into everyday life and are coming together to enhance user experience and accessibility within the TON blockchain.
Livio Weng, Chief Operating Officer of HashKey Group, was quoted saying that by simplifying the fiat on-and-off ramp experience, the pair seeks to transform individuals’ experiences globally while trying to boost the TON ecosystem.
The Foundation, via the partnership, would also leverage HasKey’s expertise and offer incubation efforts for projects on the blockchain. Steve Yun, the president of the TON Foundation, emphasized this in his comments on the collaboration. He noted that the partnership will offer additional support to independent and existing top communities and bring a new generation of mini-app developers to the TON ecosystem in the Asian region.
This partnership builds upon TON’s strategic moves to boost adoption and its standing in the crypto market. Last year, TON partnered with Telegram to introduce a crypto wallet native to the social media platform and caters to its extensive user base. This particular development might have played a big role in the upward price trajectory of blockchain’s native token, toncoin, observed in the last few months.
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