TON Labs, which also operates as a technology powerhouse for advancement of ventures related to decentralization, will operate with Wirecard to build unique digital investment vehicles.
The collaboration is announced a week after sources indicated that TON had switched to private beta trial phase, a major milestone since last year’s huge private initial coin offering (ICO).
“The addition of TON Blockchain to Telegram’s growing ecosystem is opening new opportunities for business and technological innovation.”
Alexander Filatov, managing partner at TON Labs, had the following to say:
“We are excited to partner with one of the world’s most dynamic and innovative financial technology companies to bring synergetic new generation fintech solutions to the market.”
Specifics of the product offerings the two organizations will work on will stay undefined, Wirecard suggesting that updates will arrive in different phases of development without setting a timeline.
Wirecard’s executive vice president of group business development, Georg von Waldenfels, said “Their [TON Labs’] immense experience in highly scalable technology and decentralized solutions as well as the strong global growth of Telegram messenger will be instrumental for the success of our joint program.”
Meanwhile, Wirecard received conventional media exposure this week after Germany’s financial regulator notified law enforcement officials about possible price rigging of its shares from January.