Matrixport Launches Support for The Open Network (TON) Ecosystem & Toncoin Native Token

·3 min read

Users can now custody, trade, exchange and participate in 'Flexible Staking' and 'Fixed Income' investment products with Toncoin

SINGAPORE, July 5, 2022 /PRNewswire/ -- Matrixport, one of the world's largest digital assets financial services ecosystem, has announced support for The Open Network (TON) ecosystem across its range of crypto financial services with the listing of Toncoin on the Matrixport app.

(PRNewsfoto/Matrixport)
(PRNewsfoto/Matrixport)

The collaboration reflects Matrixport's ongoing commitment to grow the wider blockchain ecosystem and support the next wave of digital asset adoption. This includes the world's first institutional custody and escrow services of TON's native token Toncoin, via Cactus Custody™, Matrixport's third-party institutional custody service.

Designed by Telegram as a fully decentralized layer-1 blockchain for mass adoption and distribution, the TON network boasts ultra-fast transactions, low fees and easy-to-use dApps.

Steve Yun, Founding Member of TON Foundation, said: "Matrixport has become an integral part of the TON ecosystem. With Cactus Custody™, TON participants can now access the innovative products of TON with the maximum comfort that the crypto industry can offer. We are impressed at the quality of execution demonstrated by the Cactus Custody team and thrilled for many more cutting-edge products to come. We are grateful to be partners with Matrixport."

Cynthia Wu, Chief Operating Officer of Matrixport & Head of Cactus Custody™, said: "We are delighted to work with TON as the first custodian to support the TON blockchain and its native token, and look forward to contributing to its community. TON's heritage and roadmap, along with its strong performance, have given us confidence in its immense potential. We expect our clients to recognise its value and embrace it. Matrixport's wide range of innovative products, trading and asset management tools will help accelerate the growth of the TON ecosystem."

Toncoin holders will benefit from Matrixport's rich offerings to get more out of their Toncoin. Users can earn passive income with 'Flexible Staking' and 'Fixed Income' investment products, with transactions settled in Toncoin.

Additionally, those seeking to collateralize Toncoin can look forward to secure, transparent, and efficient institutional grade custodian services. Through Cactus Custody™, users can look forward to making instant, low-cost transfers of Toncoin, 24/7 on TON, Ethereum and BNB blockchain networks, as well as a seamless and secure connection with DeFi protocols, through Cactus Custody™'s MetaMask Institutional (MMI) integration.

About TON

TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, who are most famous for founding Telegram Messenger. The Open Network (TON) is a fully decentralized layer-1 blockchain designed by Telegram to onboard billions of users. It boasts ultra-fast transactions, tiny fees, easy-to-use apps, and is environmentally friendly. Toncoin, the native token of TON, is used for paying transaction fees, securing the blockchain through staking, deciding how the network develops, and settling payments. For more information, go to https://ton.org/

About Matrixport

Matrxiport is one of the world's largest and most trusted digital assets financial services ecosystem and forges strategic collaborations with early stage Web3 innovators, helping them build, grow and scale. With USD4B in digital assets actively managed, it provides one-stop crypto financial services to meet the emerging needs of generating long term wealth in digital assets. The company's services include Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management.

With its mission to make crypto easy for everyone, Matrixport has a relentless focus on product innovation and offers a comprehensive suite of market leading crypto investment products. In 2021, the number of investors using its app increased by 427%, year-on-year, and the fintech company achieved pre-money unicorn valuation within two years after its inception.

Headquartered in Singapore, Matrixport serves both institutions and retail customers across Asia and Europe. The company holds licenses in Hong Kong and Switzerland. For more information, visit www.matrixport.com.

Instagram: @matrixport_

Twitter: @realMatrixport

LinkedIn: @Matrixport

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SOURCE Matrixport