TON Foundation Boosts Payments Strategy with New VP

The TON Foundation, which is responsible for the development of The Open Network, has hired Nikola Plecas, a former executive from Visa, to serve as its vice president of payments. Plecas is tasked with leading the foundation's global payments strategy, focusing on partnerships for applications based on TON and Telegram, and ensuring compliance across the foundation. "As payments become increasingly vital to the TON ecosystem, it was logical to appoint dedicated leadership," Plecas said. His primary goals for the initial months include crafting a defined vision for payments and improving user experience and infrastructure. Plecas aims to streamline processes facilitating easier transition between fiat and crypto. With a wealth of experience at Visa, where he held roles such as crypto business lead in Europe and senior director for Visa Crypto, Plecas is well-equipped to work alongside TON Foundation CEO Max Crown. Crown emphasized the importance of payments in realizing TON's mission to provide decentralized services, noting Plecas's expertise as vital for accelerated growth. TON is a Layer 1 blockchain developed for usage within Telegram, and Toncoin, its token, holds a significant market cap of $7.5 billion.