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TON raises 8-figure sum from MEXC to make Telegram a Web3 super-app

– The Open Network (TON) has received significant funding from MEXC Ventures, the venture arm of cryptocurrency exchange MEXC.
– The funding aims to promote global accessibility to Web3 technology and lower entry barriers.
– As part of the partnership, MEXC will provide marketing services and promotion for TON-based projects on its platform.
– MEXC will also launch a TON collateral lending service and eliminate trading fees for the TON token.
– TON Foundation will receive continued funding from MEXC Ventures for TON-based mini apps.
– The goal is to increase Web3 adoption within the Telegram messenger and make crypto as easy as texting.
– TON Wallet, integrated into Telegram as a mini-app, allows users to access cryptocurrencies directly from the app’s interface.
– TON’s involvement in TON development was terminated in 2020 due to a legal battle with securities regulators in the US.
– MEXC Ventures is a subsidiary of centralized cryptocurrency exchange MEXC, founded in 2018 and registered in the Seychelles.
– MEXC is known for its flexible KYC policies, allowing users to trade and deposit cryptocurrencies without completing KYC.
– Users have been warned about the risks of using a non-KYC exchange, such as inability to prove identity in case of a hack.
– MEXC claims to hold licenses in Australia, Estonia, and the US, serving users in 200 countries.

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