With an oversubscribed private placement and backing from crypto’s biggest players, Verb is positioning itself as the bridge between institutional capital and The Open Network’s booming blockchain ecosystem.
Summary
- Verb Technology closes an oversubscribed $558 million private placement to build the first publicly traded treasury focused on Toncoin.
- The funding round, led by Kingsway Capital and backed by major crypto investors, marks a significant institutional endorsement of TON and The Open Network blockchain.
On August 8, Nasdaq-listed Verb Technology Company Inc. announced the successful closing of an upsized and oversubscribed $558 million private placement, marking a pivotal step in the company’s transformation to a publicly traded Toncoin (TON) holder.
The deal, led by Kingsway Capital and anchored by heavyweights like Blockchain.com, Pantera, and Kraken, signals a watershed moment for The Open Network’s native token. Verb plans to immediately deploy the majority of proceeds into TON, staking the holdings to generate yield while maintaining long-term exposure to the asset.
Why Verb is betting half a billion on Toncoin
Verb Technology’s decision to channel $558 million into Toncoin can be seen as a calculated bet on the convergence of messaging and blockchain economies. Unlike traditional corporate treasuries that passively hold Bitcoin, Verb’s strategy hinges on two key advantages: staking rewards and direct exposure to Telegram’s ecosystem, which now spans over a billion users.
“As the exclusive blockchain infrastructure powering Telegram’s Mini App ecosystem, we believe in the utility and potential growth in adoption of Toncoin,” said incoming Executive Chairman Manuel Stotz, who also serves as President of the TON Foundation.
The statement underscores Verb’s thesis: that TON isn’t just another altcoin, but the native currency of a rapidly expanding digital economy. Telegram’s recent integrations, including TON-based payments for ads, NFT settlements, and mini-app transactions, create a built-in demand loop for the token.
From Verb to TON Strategy Co.
To reflect its new direction, the company said it will rebrand as TON Strategy Co., signaling a shift from its roots in social commerce to a dedicated digital asset reserve model.
The pivot comes with a complete executive reshuffle, assembling a team with deep ties to both Wall Street and the institutional crypto landscape. Manuel Stotz, founder of Kingsway Capital and President of the TON Foundation, will serve as Executive Chairman; Veronika Kapustina, a former senior advisor to the TON Foundation with investment banking experience, steps in as CEO; and Sarah Olsen, with her JP Morgan and blockchain development background, assumes the CFO role.
Added to this mix is Peter Smith, CEO of Blockchain.com, who joins as special advisor—further underlining the institutional depth behind Verb’s transformation. Verb’s move could set a precedent for how traditional markets interact with ecosystem-aligned cryptocurrencies. If successful, it may prompt other firms to look beyond Bitcoin or Ethereum and rethink what a corporate crypto strategy can be.
