The TON Foundation started its work in Switzerland as a non-profit organization
Date: 2023-09-06 Author: Karina Ziganova Categories: IN WORLD
The TON Foundation, behind the development of The Open Network (TON), has announced the start of its activities as a Swiss non-profit organization.
The choice of the country is connected with a rich history of technological innovation and a clear legal framework regarding blockchain and cryptocurrencies, reports Finbold.
The TON Foundation clarified that regulatory transparency is critical to long-term planning, strategy, and the company's mission to support the TON ecosystem.
“This marks the next chapter for the Toncoin community. Our organization will strive for strong governance and transparency in accordance with Swiss rules,” said Steve Yun, president of the TON Foundation.
The opening of a subsidiary in Switzerland coincides with a number of upcoming initiatives, including a series of corporate partnerships to drive developer engagement, user engagement and network growth.
By the fourth quarter of 2023, the TON Foundation plans to release a public roadmap. In addition, it undertakes to provide detailed reports on the transparency and tokenomics of Toncoin, the source said.
As part of the further development of the TON Foundation, it will hold an annual event called Gateway to develop the TON community. The exact date and time of the event is still unknown.
In July 2023, Pavel Durov admitted that he was investing in TON and Bitcoin.
