The TON Foundation is partnering with Kingsway Capital Partners to establish a public company that will hold Toncoin on its balance sheet. The initiative targets a $400 million capital raise and aims to expand Toncoin’s position in the corporate treasury ecosystem.
Public Toncoin Treasury Firm in the Works
The TON Foundation has confirmed plans to launch a Toncoin treasury company. The firm will work alongside Kingsway Capital Partners to create a new publicly listed entity. The purpose of the company is to buy and hold Toncoin using investor funds.
The company plans to raise $400 million from institutional and private investors. It may use a special purpose acquisition company (SPAC) structure to go public. Investors will reportedly participate through a private investment in public equity (PIPE) transaction. This allows them to purchase shares at a discounted rate ahead of the public listing.
TON Price Moves Amid Treasury Development
The news of the planned company led to Toncoin price rising almost 2 percent. It was circulating at about 3.16 dollars, and its overall marketplace cap was 7.68 billion in dollars. In spite of this short term price rise, the sheer trading volumes declined by 18 percent on the back of weak markets spearheaded by Ethereum.
The setting up of a Toncoin treasury company falls in line with the general trend in the cryptocurrency industry. The same trend has been witnessed with other big tokens such as Bitcoin, Ethereum, and Solana, which have experienced similar actions by treasury-centered companies. These companies are trying to purchase digital currencies in their financial plans.
Growing Institutional Adoption of Toncoin
This new initiative comes at a time when crypto treasuries are becoming more common. Bitcoin leads the space, while Ethereum and Solana are seeing increased corporate interest. The TON Foundation appears to be following the same strategy.
The foundation is also aiming to get out of the previous reversals. It has already declared an offer of the UAE Golden Visa in association with Toncoin staking. The offer was however withdrawn later because of the fact that the government did not approve it. This is a new development on institutional credibility and adoption under this treasury initiative.
