TON’s latest bullish indicator: a fresh $10 million injection earmarked for building out the blockchain’s infrastructure from Cypher Capital, a multi-strategy crypto investment firm based in the United Arab Emirates (UAE).

The funding builds upon an earlier $126 million “rescue fund,” debuted last month to support TON development, then-described as “a soft commitment … ready to deploy whenever there’s a suitable opportunity that is in need of support from the TON community.”  

Newly committed funds are set to focus on applications in the Middle East, Africa, Asia, Turkey, and India, according to Bill Qian, chairman of Cypher Capital and a board member of the TON Foundation, who in a statement called the network “a game changer in the Web3 space.”