KuCoin ventures to provide $20K grant to TON ecosystem

The investment arm of crypto exchange KuCoin will provide a $20,000 grant to the TON network to fund ongoing initiatives in the ecosystem, a KuCoin spokesperson said by email.

"The first phase of our partnership involves a $20,000 grant, which will be allocated to five TON-based mini-apps," the spokesperson said. "Meanwhile, we are in discussion with TON for more collaborations."

The mini-apps focus on payments and gaming, according to a Friday announcement. In the statement, KuCoin Ventures said it is aiming "to blaze a trail for the future of collaboration between exchanges and public chains."

The news may be a further signal of growing momentum around Web3 developments on TON, coming only days after Animoca Brands made an undisclosed investment in the system, becoming the network's largest validator in doing so.