- TON foundation teams up with Banxa so APAC SMEs can use the TON blockchain for stablecoin-based B2B, consumer payments and cross-border settlements using Banxa’s on and off ramps
- The move follows the launch of TON Pay for Telegram Mini Apps and builds on OSL Group’s $300 million and $200 million equity raises
The TON foundation has entered a partnership with crypto payments provider Banxa to introduce stablecoin payment processing for small and medium-sized enterprises across the Asia-Pacific region. The move links Banxa’s existing fiat-to-crypto infrastructure with The Open Network (TON) blockchain, with a focus on business payments and cross-border settlement for companies operating in APAC.
TON foundation and Banxa target APAC SME payments
Under the new collaboration, enterprises in Asia-Pacific will be able to route settlements and international transfers over the TON blockchain. A joint statement on Tuesday said the integration is designed to support a range of payment flows, including business-to-business settlements, consumer-to-business transactions, and cross-border payments.
Banxa contributes its on- and off-ramp network, which connects traditional currencies with digital assets, while TON provides the underlying blockchain rails. Banxa, owned by OSL Group, already operates under licenses across multiple regions, including Asia-Pacific, the U.S., the UK, Europe, Latin America, and Africa. By pairing that regulatory footprint with TON’s infrastructure, the partners aim to give APAC SMEs a way to use stablecoins for settlement without building their own crypto infrastructure.
Nikola Plecas, vice president of payments at TON foundation, said the partnership is aligned with a broader focus on practical use cases. According to the statement, the foundation is emphasizing TON-based applications that can provide lasting commercial value for developers and businesses in different markets, rather than one-off or purely speculative products.
TON Pay expansion and Telegram integration
The Banxa agreement comes soon after the launch of TON Pay, a payment software development kit that went live on Feb. 11. TON Pay allows Telegram Mini Apps to take payments in Toncoin and USDT directly inside the Telegram messaging platform, integrating blockchain-based settlement into the app environment.
According to TON foundation, TON Pay is built to handle transactions with average fees below $0.01 and settlement times under one second. The SDK is aimed at Telegram’s reported 1.1 billion monthly active users, giving developers who build Mini Apps the ability to accept crypto payments without forcing users to leave the messaging interface or rely on external wallets for every transaction.
Taken together, the TON Pay release and the Banxa partnership point to a dual track for the network: consumer-facing payments embedded in Telegram, and business-focused stablecoin settlement for SMEs in Asia-Pacific. Both efforts rely on the same TON infrastructure but are targeted at different types of payment flows and user bases.
OSL Group, Banxa and the stablecoin payments push
Banxa’s role in the initiative is tied to its parent company, OSL Group, which has been expanding into the payments segment of the digital asset industry. OSL Group acquired Banxa as part of this strategy and has backed that move with sizable capital raises.
In January 2026, OSL Group closed a $200 million equity financing round. That followed a $300 million raise in 2025, which the firm described as the largest publicly disclosed equity funding in Asia’s digital asset sector at the time. These funding rounds underpin OSL’s efforts to build out regulated infrastructure that can support services such as fiat-to-crypto conversion and global payment routing.
By integrating TON foundation’s blockchain with Banxa’s existing rails, the partnership seeks to leverage this capital-backed infrastructure in a new way. SMEs in Asia-Pacific would be able to settle invoices, accept stablecoin payments from consumers, and move funds across borders using the TON network while accessing Banxa’s on- and off-ramp capabilities to convert between digital assets and local currencies where needed.
Key takeaways
- TON foundation and Banxa will enable stablecoin payments for SMEs across Asia-Pacific using the TON blockchain.
- The partnership combines Banxa’s fiat-to-crypto ramps with TON infrastructure for B2B, C2B, and cross-border transactions.
- It follows the Feb. 11 launch of TON Pay, which supports Toncoin and USDT payments in Telegram Mini Apps with low fees and fast settlement.
- Banxa’s parent OSL Group has raised $300 million in 2025 and $200 million in 2026 to support its digital asset and payments strategy.
Conclusion
The partnership between TON foundation and Banxa introduces a stablecoin-based payment option aimed at small and medium-sized enterprises in the Asia-Pacific region, building on TON’s recent push into payments through TON Pay and Telegram integration. With Banxa’s licensed presence across multiple continents and OSL Group’s recent equity financings providing backing for its infrastructure, the collaboration positions the TON blockchain as a settlement layer for both consumer and business transactions, with a particular focus on cross-border activity in APAC.
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