Verb Technology, a Nasdaq-listed e-commerce and healthcare services firm, announced it has raised $558 million in an upsized, oversubscribed private placement to pivot into a Toncoin treasury strategy. The company will rebrand as TON Strategy Co. (TSC), becoming the first public firm to use Toncoin—the native token of The Open Network —as a corporate reserve asset.
Following the transaction’s expected close on August 7, TSC aims to hold nearly 5% of Toncoin’s circulating market value. The firm also plans to earn sustainable staking rewards to support a cash-flow-positive treasury model.
The private placement was led by Kingsway Capital, with major backing from Blockchain.com, Pantera, Kraken, Animoca, and others.
Despite the crypto pivot, Verb will maintain its existing operations, including MARKET.live, its AI-powered livestream shopping platform, and the recently acquired LyveCom. The move reflects growing institutional interest in Toncoin and highlights a trend of corporate treasuries diversifying into next-generation blockchain assets.
You need to login in order to Like
Leave a comment