The Open Network (TON), a blockchain project originally initiated by Telegram, is set to expand its presence in the United States under the forthcoming administration of President-elect Donald Trump. This strategic move will be spearheaded by Manuel Stotz, recently appointed as the TON Foundation’s president and board member. Stotz, founder of investment firm Kingsway Capital Partners, has been involved with the TON Foundation since its establishment in Switzerland in 2023.
Stotz emphasized the significant potential of the U.S. market, stating, “The U.S. 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.” His leadership is expected to drive TON’s growth and integration within the U.S. financial ecosystem.
TON’s renewed focus on the U.S. marks a pivotal development in its history. Initially launched by Telegram co-founders Pavel and Nikolai Durov, the project faced regulatory challenges, leading to Telegram’s withdrawal in 2020. Subsequently, independent developers continued its development, culminating in the establishment of the TON Foundation.
Under Stotz’s leadership, the TON Foundation aims to leverage the evolving regulatory landscape in the U.S., which is increasingly supportive of blockchain innovations. This strategic expansion reflects TON’s commitment to advancing blockchain adoption and integrating digital assets into mainstream financial systems.
