TLDR
- The TON Foundation is working with Kingsway Capital Partners to launch a public company focused on holding Toncoin.
- The new company aims to raise up to $400 million from private investors through a PIPE funding round.
- The public listing may be achieved using a special-purpose acquisition company to speed up the process.
- Toncoin’s price rose by nearly 2 percent following the announcement despite a drop in daily trading volume.
- The TON Foundation is shifting focus to structured treasury plans after its earlier UAE Golden Visa offer faced criticism.
The TON Foundation plans to raise $400 million for a new treasury company aimed at acquiring and holding Toncoin. In partnership with Kingsway Capital Partners, the group intends to list the company publicly. The development comes amid growing interest in cryptocurrency treasury strategies across various digital assets.
TON Foundation Plans Toncoin Treasury Firm
The proposed company will primarily purchase and hold Toncoin, signaling a long-term commitment from institutional partners. Sources confirm the TON Foundation and Kingsway Capital Partners will co-launch the entity and jointly oversee operations. The parties are currently engaging private investors to secure capital through a PIPE deal.
The private investment in public equity arrangement allows shares to be sold at a discount ahead of a potential SPAC merger. While the company’s official name remains undisclosed, its structure aligns with recent trends in crypto-backed public offerings. The TON Foundation believes this approach could attract more institutional buyers to Toncoin.
Toncoin’s price rose nearly 2% following the announcement, reaching $3.16 and placing market capitalization at $7.68 billion. However, trading volume declined by 18% amid concerns of a broader market pullback led by Ethereum. Still, the TON Foundation maintains focus on strategic treasury accumulation despite short-term market movement.
Bitcoin and Ethereum Treasuries Maintain Momentum
Bitcoin continues to dominate the corporate treasury landscape, leading with multiple firms adding the asset to their reserves. Ethereum-based companies such as SharpLink Gaming and BitMine are also expanding their holdings through structured treasury models. The TON Foundation sees these trends as validation for launching its Toncoin treasury company.
By aligning with these market leaders, the TON Foundation aims to replicate their institutional appeal and scale. Moreover, the planned $400 million fundraise shows intent to secure Toncoin’s place among top-tier digital assets. The partnership with Kingsway Capital further enhances the credibility of the new vehicle.
Ethereum remains central to many decentralized projects, but newer coins are now attracting similar levels of treasury interest. This has encouraged the TON Foundation to accelerate its strategy and establish a dedicated, public-facing holding firm. The treasury model has proven effective for both investor confidence and long-term asset performance.
Altcoins Attract Corporate Interest
Solana’s ecosystem has seen treasury initiatives led by Sol Strategies and DeFi Development Corp amid rising corporate engagement. Recently, Nature’s Miracle introduced an XRP-based treasury plan, marking a broader adoption of this framework. The TON Foundation views these developments as consistent with its own objectives.
BNB achieved an all-time high fueled by growing enterprise interest, reinforcing the value of institutional-backed purchases. The TON Foundation intends to follow a similar path by channeling capital directly into Toncoin reserves. This structured treasury approach will enhance Toncoin’s visibility and institutional adoption.
Despite past setbacks, including the failed UAE Golden Visa offer, the TON Foundation is prioritizing clear and sustainable goals. The focus now lies entirely on executing a transparent treasury model with public accountability. With market dynamics evolving, the TON Foundation’s initiative arrives at a critical growth phase for crypto treasuries.
