AlphaTON Capital Corp., formerly known as Portage Biotech Inc., announced on September 3 that it will purchase about $100 million worth of TON tokens as part of a plan to establish a digital asset treasury company focused on Telegram’s blockchain ecosystem. The company is listed on Nasdaq under the tickers PRTG and ATON.
The strategy includes acquiring and holding TON, developing network infrastructure, and supporting applications within Telegram’s platform, which has more than 1 billion monthly active users.
Treasury Strategy and Market Position
AlphaTON Capital said the initiative is designed to build a long-term reserve of TON, the native token of The Open Network, and create a publicly traded vehicle giving investors access to Telegram-linked blockchain assets.
The company described its approach as centred on managing blockchain infrastructure and incubating decentralised applications within Telegram’s ecosystem. TON, which was originally developed by Telegram and later spun off into a community-driven project, has become one of the fastest-growing blockchain networks tied to a major messaging platform.
By entering the space, AlphaTON Capital joins a growing number of public firms structuring their balance sheets around digital assets. Executives said the move is intended to connect traditional capital markets with emerging blockchain-based platforms.
Leadership Appointments
In connection with the announcement, Brittany Kaiser has been named chief executive officer and added to the board of directors. Kaiser is a director at Gryphon Digital Mining, a Nasdaq-listed firm that recently announced a merger with American Bitcoin Corp. She is also co-founder of the Own Your Data Foundation and has served as an adviser to governments and organisations on blockchain and digital policy.
Enzo Villani, founder and CEO of Alpha Transform Holdings and co-founder of Nasdaq Global Corporate Solutions, will become executive chairman and chief investment officer at AlphaTON Capital. Villani said the rise of blockchain integration within established platforms like Telegram signals “one of the most significant market opportunities since the introduction of Bitcoin.”
Broader Context
The company’s decision reflects a wider trend of institutional and public-market engagement with blockchain assets, particularly those tied to widely used social platforms. With Telegram’s active user base surpassing a billion, the TON network has drawn increased attention as developers roll out decentralised applications linked to the messaging app.
AlphaTON Capital did not disclose a timeline for completing the $100 million purchase of TON tokens or further details of its planned infrastructure and incubation efforts.
