The non-profit organization, TON Foundation, which is backed by the Toncoin (TON) community, has recently announced a strategic alliance with HashKey Group. This collaboration aims to broaden the use of digital assets in the Asia-Pacific area as mentioned in the announcement. Through this partnership, HashKey Group and TON Foundation plan to investigate methods for fostering early-stage projects based on Toncoin within the Web3 sector.
Furthermore, this collaboration will provide a safe avenue for converting between fiat currencies and cryptocurrencies using Telegram’s onboarding and offboarding features.
Consequently, the dual parties will collaborate, bringing about positive outcomes for the Toncoin community as digital assets and Web3 projects gain widespread acceptance.
Steve Yun, president of the TON Foundation, expressed his excitement about the latest collaboration with HashKey Group. This partnership will enable us to strengthen our commitment to existing and influential independent communities in this region around TON. These local teams have already gained significant traction, and we are eagerly anticipating welcoming a new wave of mini-app creators on the TON platform.
Livio Weng, COO of HashKey Group, also shared the same views, stating that this collaboration would simplify the process of converting fiat currency to cryptocurrency and vice versa, ultimately making day-to-day crypto usage more convenient.
The TON Foundation, in collaboration with HashKey Group, is initially concentrating on understanding the legal landscape in Hong Kong for treasury management before considering expansion into other markets. It’s important to note that the Asia-Pacific region encompasses diverse regulatory frameworks for crypto assets, which may differ significantly depending on the specific jurisdiction.
HashKey Group and the ton-blockchain team announce their partnership, strengthening the Ton ecosystem and virtual asset initiatives in the APAC region. 🤝️
A powerful alliance driving forward innovation and adoption in the #crypto world!
👉 #crypto #partnership
— HashKey Group (@HashKeyGroup) April 12, 2024
HashKey Expands Web3 Activity
Established in 2018 and based in Hong Kong with branches in Singapore and Tokyo, HashKey Group has become a significant player in Asia’s digital asset scene as the use of web3 technology becomes more widespread.
This week, HashKey launched HashKey Exchange in Hong Kong, which is regulated by the Securities and Futures Commission (SFC). HashKey Capital functions as a worldwide investment firm specializing only in blockchain technology and digital asset management.
The business additionally offers HashKey Cloud, which specializes in verifying transactions on blockchains. Noteworthy initiatives of theirs include HashKey Tokenization and HashKey Non-Fungible Tokens (NFTs).
Impact on Toncoin (TON) Price Action
In the current cryptocurrency market uptrend, Toncoin (TON) reached its maximum value ever recorded this week. With a total worth of around $35 billion when all tokens are taken into account, Toncoin has surpassed Cardano (ADA) to join the top ten most valuable digital currencies.
In the past month, the significant advancements and collaborations of the Toncoin network, supported by the Telegram community, have led to a remarkable 66% price increase for TON, which was trading at approximately $7.23 on Friday. Moreover, there is over $161 million in total value secured within the Toncoin network from around a dozen web3 projects.
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2024-04-15 10:39