TONCASH gains TON Ventures backing to expand crypto cashback platform. Source: Shutterstock

TONCASH, a crypto cashback and rewards platform native to Telegram, has secured strategic investment from TON Ventures, the flagship fund of The Open Network (TON).

The funding will accelerate TONCASH’s mission to make best-price shopping and on-chain rewards the Web3 standard while expanding its global user base.

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Ben Usinger, CEO and co-founder of TONCASH, stated: “This investment deepens our collaboration with Telegram and The Open Network, empowering us to deliver the best online shopping and rewards experience for the Web3 audience. With TON Ventures’ strategic support, we’re driving the adoption of on-chain payments, engaging millions of users through innovative cashback mechanics and redefining how brands connect with customers in the Web3 space.”

Since its launch on Telegram in November 2024, TONCASH has attracted over 200,000 users, gaining momentum as a fast-growing player in the crypto space.

Moreover, the platform partners with over 200 major brands, including Apple, Adidas, Binance, and Trip.com, offering cashback of up to 80%, redeemable in Bitcoin, USDT, or TON tokens.

Additional perks like airdrops and rewards enhance its appeal, all seamlessly accessible via Telegram.

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With TON Ventures’ support, TONCASH aims to expand aggressively across Asia-Pacific, Europe, the Middle East, and Latin America, tapping into Telegram’s 950 million active users to connect global brands with the Web3 community.

In other crypto news, global cryptocurrency exchange KuCoin has introduced KuCoin Pay, a payment solution aimed at revolutionising digital commerce by integrating crypto transactions into retail.

The system enables businesses to accept crypto payments effortlessly, offering a contactless and borderless transaction method.

Backed by KuCoin’s robust infrastructure and serving over 37 million users worldwide, the platform simplifies crypto payments with reduced transaction fees and instant settlements.