Nasdaq-listed Verb Technology collaborates with Kingsway Capital to debut treasury strategy centered on TON
Blockchain Giant Blockchain.com and Verb Technology Partner to Create First Publicly Traded Treasury Strategy Company for Toncoin
In a groundbreaking move, Verb Technology Company and Kingsway Capital have announced a partnership to establish the first publicly traded treasury strategy company focused on Toncoin (TON), the native cryptocurrency of The Open Network blockchain. The new company, expected to rebrand as TON Strategy Co. (TSC), aims to become one of the largest institutional holders of Toncoin globally, holding around 5% of its circulating supply.
The partnership, backed by significant crypto and institutional expertise, is led by Manuel Stotz, Executive Chairman of Kingsway Capital and President of the TON Foundation. Stotz will also serve as the Founder & CEO of the new company. Notable participants in the private placement include Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA), with Kingsway Capital leading the deal.
The new treasury company will primarily use the proceeds from an upsized and oversubscribed private investment in public equity (PIPE) offering to acquire Toncoin. The offering raised approximately $558 million by issuing about 58.7 million shares at $9.51 each. The company's strategic purpose is to hold Toncoin as its primary treasury reserve asset and generate sustainable staking rewards, enhancing cash flow while expanding exposure to TON’s ecosystem.
Peter Smith, CEO & Co-Founder of Blockchain.com, has been appointed as a Special Advisor to the new company. Smith believes that the TON ecosystem marks a major step in global crypto adoption. He is optimistic that the new leadership team's combined crypto and institutional expertise will drive investment in the future of digital commerce.
Manuel Stotz expressed his view that TON has the potential to compound in value and offers staking yield, making permanent capital vehicles suitable for long-term holdings of TON. He believes that the TON ecosystem has the potential to foster blockchain innovation.
The PIPE transaction is expected to close around August 7, 2025, subject to customary closing conditions. Following the announcement, Verb Technology stock surged significantly, reflecting investor confidence in the crypto treasury strategy. The new company's strategic move leverages TON’s integration as the exclusive blockchain for Telegram, which has over 1 billion active users, enabling the use of Toncoin within the Telegram app for payments and creator rewards.
In summary, this partnership establishes Verb Technology (rebranding as TON Strategy Co.) as a pioneer in the public market, dedicating a treasury strategy for Toncoin. The partnership signifies a major institutional entry into the TON ecosystem, backed by Kingsway Capital’s leadership and broad institutional support.
The partnership between Verb Technology and Kingsway Capital creates a unique opportunity for investing in Toncoin, as the newly formed TON Strategy Co. aims to become a significant player in the global Toncoin market, holding around 5% of its circulating supply. Peter Smith, CEO of Blockchain.com, joins as a Special Advisor, bringing expertise in finance and technology to help drive investing in the future of digital commerce, further solidifying the public market presence of this innovative strategy.
