TON blockchain aims for US expansion with Trump's administration

The Open Network (TON), a blockchain project associated with Telegram, is preparing to enhance its presence in the United States under the incoming administration of President-elect Donald Trump.

A spokesperson for the TON Foundation confirmed that the U.S. market is a strategic focus as they anticipate favorable conditions for cryptocurrency growth.

Manuel Stotz has been appointed as the new president of the TON Foundation and will lead this initiative.

“The US ranks as one of the world’s largest financial centers, and we see enormous potential for it to develop into a crypto hub that will promote and support the retail adoption of digital assets,” Stotz stated.

Stotz has been involved with the TON Foundation since its inception in Switzerland in 2023 and replaces Steve Yun, who will remain on the board.

He is a notable investor in digital assets and founder of Kingsway Capital Partners, which has supported over 50 projects in the sector.

“I look forward to working with our partners and stakeholders to accelerate this mission — especially in the dynamic and innovative US market,” he added.

The TON blockchain was originally introduced by Telegram co-founders Pavel and Nikolai Durov, who raised $1.7 billion for the project in 2018.

However, Telegram had to withdraw from the project in May 2020 due to legal challenges from the U.S. Securities and Exchange Commission regarding its Gram (CRYPTO:GRAM) token.

Despite this setback, TON has continued to develop as an open-source project, allowing independent developers to create networks based on its technology.

With its integration into Telegram's messaging app, TON has positioned itself as a significant player in Web3 applications.

The foundation's expansion plans come at a time when Trump's administration is expected to adopt pro-crypto policies, including initiatives aimed at establishing a national Bitcoin (CRYPTO:BTC) reserve.

Stotz believes that these developments could mark a pivotal moment for both TON and the broader cryptocurrency ecosystem in the U.S.