Verb Technology Company, which will soon change its name to Ton Strategy Company, has invested $713 million in Toncoin (TON) as its primary treasury asset, aiming to take a leading position among holders of this cryptocurrency.
This is reported by Business • Media
Asset Growth and Company Strategy Change
The total treasury assets of Verb Technology have exceeded $780 million, which includes $713 million in Toncoin and $67 million in cash. This significant move is part of the previously announced TON treasury strategy that the company is actively implementing.
Recently, the company completed a private placement of $558 million, involving over 110 institutional and crypto-oriented investors. The majority of the raised funds were directed towards acquiring Toncoin, allowing Verb Technology to significantly strengthen its position in the blockchain market of The Open Network.
“Crossing the $780 million asset mark just days after our private placement reflects confidence in Toncoin. This is more than just building a balance sheet; it is a contribution to the security of the TON blockchain, where participants can build, transact, and directly benefit from the underlying financial protocols,” said Manuel Stoz, the company’s CEO.
Strategic Goals and Role in the TON Market
Verb Technology aims to accumulate over 5% of the circulating supply of Toncoin, which will allow the company to become a significant player in the development and protection of the network’s infrastructure. Additionally, the company plans to gradually increase the amount of TON per share through reinvesting cash flows, earning staking rewards, and capital market operations.
Manuel Stoz emphasized that Verb Technology has become the first and largest public company to choose TON as its primary treasury asset, thereby contributing to the strengthening of the network’s economic foundation.
According to the company’s statement, this growth occurs against the backdrop of the extensive integration of TON into the messaging app Telegram, which is used by over a billion active users each month.
Furthermore, the Ton Foundation, in collaboration with the investment firm Kingsway Capital Partners, is working on establishing a $400 million TON treasury reserve, further underscoring the high interest in developing the TON ecosystem.