Verb Tech Rebrands, Goes All-In on Toncoin ($TON)
Verb Technology Now TON Strategy Co., Backs Toncoin
Verb Technology (Nasdaq: VERB) has announced a strategic shift, rebranding as TON Strategy Co. (TSC) and positioning itself as the first publicly traded entity to hold Toncoin ($TON) as a core treasury asset. This move follows a substantial $558 million private investment led by Kingsway Capital, with participation from over 110 investors, including institutions and crypto specialists.
Toncoin as Primary Treasury Asset
To execute this strategy, the company has entered into a PIPE (Private Investment in Public Equity) agreement, involving the sale of approximately 58.7 million shares, including pre-funded warrants at $9.51 per share (the stock price as of August 1, 2025). The transaction is expected to close before August 7, 2025, subject to standard closing conditions.
Post-deal, TON Strategy Co. intends to allocate a significant portion of its funds to acquiring Toncoin, the native cryptocurrency of The Open Network (TON) blockchain. The aim is to establish Toncoin as the primary asset within its treasury reserves, potentially making TSC one of the largest $TON holders globally.
The company anticipates long-term benefits from this strategy, including staking yields generated by $TON holdings. These yields could support TSC in achieving positive cash flow and a self-sustaining Toncoin strategy. Core business operations are expected to continue and potentially expand alongside the new treasury initiative.
Telegram's Role in TON Ecosystem
This decision is linked to recent developments involving Telegram and the TON Foundation. Telegram has designated TON as the official blockchain for its expanding digital ecosystem. Telegram users can now interact with $TON directly within the app, supporting mini-apps, advertising, and tokenized ownership of assets like usernames and NFTs.
Telegram's Growing User Base
- Telegram recently launched its TON Wallet to 87 million users in the U.S.
- Globally, Telegram boasts over 1 billion monthly active users.
Executive Commentary
Manuel Stotz, incoming Executive Chairman of TSC, believes Telegram is a central platform for the global crypto community, with $TON at its core. He sees accumulating $TON as a sound strategy, further enhanced by staking rewards.
Peter Smith, CEO of Blockchain.com and future Special Advisor to the company, views this as a major milestone for crypto adoption, praising the team's vision and the blend of crypto expertise and institutional knowledge within the new management.
Rory J. Cutaia, CEO of Verb Technology, expressed excitement about collaborating with the new management, anticipating that the transaction will generate long-term value for VERB shareholders.