Coinspeaker TON Foundation and HashKey Group Ink Strategic Partnership to Enable Seamless Crypto Adoption in Asia
The Open Network (TON) Foundation, a non-profit organization funded by the Toncoin (TON) community, has announced a strategic partnership with HashKey Group to expand the adoption of digital assets in the Asia-Pacific region. According to the announcement, the partnership between HashKey Group and TON Foundation will explore ways to ensure support for early-stage Toncoin-based Web3 projects.
Additionally, the partnership will ensure secure access to fiat currencies through Telegram-based on and off-ramping services.
As a result, the dual will work together for the greater benefit of the Toncoin ecosystem amid the mainstream adoption of digital assets and Web3 projects.
“Through this strategic partnership with HashKey Group, we are excited to provide further support to independent and already influential communities around TON in this region. Led by local teams already achieving virality, we look forward to ushering in a new generation of mini-app builders on TON,” Steve Yun, President of the TON Foundation, noted.
Similar sentiments were expressed by Livio Weng, COO of HashKey Group, who added that the partnership will make the everyday use of crypto smoother through streamlining off and on ramping fiat services.
As TON Foundation explores options for treasury management from HashKey Group, the dual intends to first focus on the laws and regulations from Hong Kong with plans to extend to other markets. Furthermore, the Asia-Pacific region is wide with a variety of regulatory frameworks for crypto assets depending on the specific jurisdiction.
🥳@HashKeyGroup and @ton_blockchain team up for strategic collaboration, bolstering TON ecosystem projects and #virtualasset services in APAC.
A powerful alliance driving forward innovation and adoption in the #crypto world!
👉https://t.co/OAKqfHOtgQ #crypto #partnership
— HashKey Group (@HashKeyGroup) April 12, 2024
HashKey Expands Web3 Activity
Founded in 2018 and headquartered in Hong Kong with operations in Singapore and Tokyo, HashKey Group has established itself as a major digital asset hub in Asia amid the mainstream adoption of the web3 ecosystem.
Earlier this week, HashKey introduced a Hong Kong SFC-licensed virtual asset exchange dubbed HashKey Exchange. HashKey Capital has been established as a global asset manager that invests solely in blockchain technology and digital assets.
The company also has the HashKey Cloud that focuses on blockchain node validation services. Other notable projects include the HashKey Tokenization and the HashKey NFT.
Impact on Toncoin (TON) Price Action
Amid the ongoing crypto bullish outlook, Toncoin (TON) rallied to its all-time high (ATH) earlier this week. The large-cap altcoin, with a fully diluted valuation of about $35 billion, has already dethroned Cardano (ADA) to enter the top ten most valuable digital assets.
The notable developments and partnerships by the Toncoin network backed by the Telegram community have helped the TON price rally more than 66 percent in the past four weeks to trade around $7.23 on Friday. Furthermore, the Toncoin network has more than $161 million in total value locked from a dozen web3 projects.
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TON Foundation and HashKey Group Ink Strategic Partnership to Enable Seamless Crypto Adoption in Asia