Toncoin Enters the US Market via First Public Treasury Company
Date: 2025-08-15 Author: Henry Casey Categories: CRYPTO PAYMENTS
NASDAQ-listed Verb Technology has completed a major deal to transform its business into a treasury structure for Toncoin. It raised $558 million for the deal and renamed the company TON Strategy Co. (TSC). The move makes TSC the first public organization in the US to use TON as its primary reserve asset.
The project was financed by Kingsway Capital and over 110 investors, including Pantera Capital, Animoca Brands, and Kraken. Interest in the deal has grown amid recent news that the Ton Foundation is seeking funding to create a treasury model.
According to Pavel Durov, the founder of Telegram, the emergence of TSC was the first example of American investors gaining access to a public company specializing in TON. He noted that Coinbase Ventures began accumulating this token at the same time.
The new model involves a combination of long-term storage of digital assets and income from staking. The key growth factor is said to be interaction with the Telegram audience, which numbers about 900 million users worldwide.
The process will be led by well-known industry experts. The post of Chairman of the Board of Directors will be taken by Kingsway founder and President of the TON Foundation Manuel Stotz. The position of CEO was given to Veronika Kapustina, who previously worked at Morgan Stanley. Sarah Olsen, a former top manager in the blockchain department at JPMorgan, became the CFO.
In addition to the transition to a digital reserve, the company will continue to develop its projects in social commerce, including the AI platform MARKET.live and the LyveCom startup in the streaming trading segment. Peter Smith, CEO of Blockchain.com, will advise on treasury operations.
Following the deal announcement, Verb shares more than doubled in a day, with market cap surpassing $1 billion. Toncoin also saw growth on the crypto market, with the price up 4.55% in a day to $3.59, with capitalization reaching $9.23 billion. Trading volume increased by 10.5% to $385.95 million.
There are 2.56 billion TON tokens in circulation out of a total supply of 5.13 billion, giving the project a full valuation of $18.49 billion. Market participants see the deal as an important step toward integrating Toncoin into traditional US investment vehicles, which could strengthen its position in the long term.
