How the Telegram app became a MemeCoin

Toncoin (TON) is a cryptocurrency that has taken a unique journey, originating from Telegram’s ambitious vision of creating a decentralized digital ecosystem. Let’s dive into the story of Toncoin, from its inception to its rise and continued relevance in the crypto space.

In 2017, Telegram, the messaging app with a massive user base, announced plans to launch its own blockchain network—The Open Network (TON). The vision was ambitious: to create a decentralized internet, one where users could interact with applications, payments, and more, all on a blockchain network. The native cryptocurrency of this ecosystem was initially called "Gram." Telegram aimed to disrupt the cryptocurrency world by integrating this technology directly into its platform, offering a seamless digital experience for its users.

To fund the development, Telegram conducted one of the largest ICOs (Initial Coin Offerings) at the time, raising a staggering $1.7 billion. But there was one major obstacle: the U.S. Securities and Exchange Commission (SEC) raised concerns, arguing that Telegram’s token sale constituted an unregistered securities offering. This led to a lengthy legal battle, and in 2020, Telegram decided to pull the plug on the project, discontinuing their involvement.

While Telegram’s exit from the project could have signaled the end for TON, the community had other plans. The TON blockchain and its ecosystem continued to evolve, now under the stewardship of independent developers and the TON Foundation. The cryptocurrency was rebranded as Toncoin (TON), and its development began anew. Despite Telegram’s departure, the foundation pushed forward, integrating Toncoin into decentralized finance (DeFi) and focusing on its potential as a utility token in the crypto space.

Fast forward to 2024, and Toncoin finds itself back in the spotlight—this time, in a different capacity. Telegram, now a significant player in the global digital communication space, reached a groundbreaking deal with the TON Foundation. In January 2025, Telegram announced that Toncoin would be the exclusive cryptocurrency for transactions within its Mini Apps ecosystem, marking a pivotal moment in the project’s history.

This partnership brought Toncoin closer to mainstream adoption, allowing users to pay for services, purchase items, and engage in transactions using Toncoin directly through Telegram’s app. The significance of this move cannot be overstated, as it effectively bridged the gap between cryptocurrency and real-world usage.

Toncoin's market trajectory has been influenced by its close ties to Telegram, and this relationship has had both positive and negative effects. On one hand, the coin’s value surged as Telegram incorporated it into its platform, bringing a wave of new users and interest. On the other hand, the cryptocurrency has faced volatility, particularly in the wake of events such as the August 2024 arrest of Telegram’s CEO Pavel Durov. This legal incident caused a brief dip in Toncoin’s value, highlighting how the success of the project is tied to the fortunes of its parent company.

Yet, Toncoin’s future remains promising. As Telegram continues to expand its reach and adopt more blockchain-based features, Toncoin stands to gain. Its growing use cases and integration into one of the most widely used messaging platforms make it a key player in the evolving landscape of cryptocurrency.

Toncoin’s story is a testament to the resilience of the cryptocurrency community and the innovative potential of blockchain technology. From its inception as a Telegram-backed project to its rebirth under the TON Foundation, Toncoin has evolved into a significant player in the cryptocurrency market. Its integration into Telegram’s services only strengthens its position, and its future is closely tied to the continued expansion of both the TON ecosystem and the broader adoption of cryptocurrency in everyday life.

For readers and investors alike, Toncoin offers an intriguing case study in how decentralized projects can adapt, survive, and thrive—even in the face of regulatory hurdles and market challenges.