A Biotech Turned Blockchain Pioneer Bets Big on Telegram’s TON Ecosystem

AlphaTON Capital Corp, previously known as Portage Biotech Inc., has rebranded and is now focused exclusively on the digital asset Toncoin (TON), which is tied to Telegram’s ecosystem. The company has transitioned from its biotech origins to a digital asset treasury strategy, acquiring around $100 million in TON tokens. This transition includes a name change to AlphaTON Capital and a ticker symbol switch from PRTG to ATON, effective September 4, 2025 on the Nasdaq. The firm is now positioned to manage a strategic TON reserve while exploring opportunities within Telegram's billion-user platform. The company’s new strategy involves a combination of token acquisition, network validation, staking, and DeFi activities, aiming to generate yield and drive organic growth [1].

AlphaTON Capital has secured initial financing to fund this strategy. The company raised $38.2 million through a private placement involving approximately 6.7 million ordinary shares, priced at $5.73 each. Additionally, a $35 million loan from BitGo Prime is set to be used for TON token acquisitions. The company plans to purchase TON at a discount, with the first $100 million in tokens acquired for less than $70 million. These funds will be deployed into validation, staking, and other DeFi operations to generate returns while supporting the TON network [1].

The company is led by Brittany Kaiser, a prominent figure in the blockchain and data rights space, who will serve as Chief Executive Officer. Joining her is Enzo Villani as Executive Chairman and Chief Investment Officer. Their leadership is supported by a network of strategic advisors, including Anthony Scaramucci of SkyBridge and Michael Terpin, author of The Bitcoin Supercycle. These advisors provide expertise in digital assets, financial markets, and decentralized technologies. AlphaTON Capital also partners with key players in the crypto ecosystem, including BitGo, Kraken, and TwinStakes, enhancing its institutional and market access [1].

The company’s operational model is structured around three key pillars: acquiring TON tokens through strategic purchases, generating yield through staking and validation, and developing the Telegram ecosystem through DeFi, gaming, and enterprise applications. This approach differentiates AlphaTON from traditional digital asset treasuries by emphasizing active participation in the TON ecosystem. By integrating TON with Telegram’s user base, the company aims to streamline access to blockchain-based services, reducing friction for mass adoption. This strategy also includes incubating projects within Telegram’s mini app ecosystem, further embedding TON into mainstream usage [1].

The broader implications of AlphaTON’s strategy are tied to the potential of TON to evolve into a top-10 global blockchain by 2026, according to Yury Mitin of RSV Capital. The firm’s confidence in TON is based on Telegram’s user base and TON’s technical capabilities, which are expected to attract developers and entrepreneurs. The company acknowledges the risks associated with its strategy, including regulatory uncertainty, technological challenges, and market volatility. AlphaTON will closely monitor developments in TON adoption and regulatory frameworks to navigate these challenges effectively [1].

AlphaTON Capital’s approach represents a significant shift in how traditional financial institutions engage with blockchain technology. By leveraging Telegram’s scale and TON’s infrastructure, the company is positioned to capitalize on the convergence of social media, financial services, and decentralized applications. As the firm executes its plan, it aims to offer public market investors exposure to a rapidly growing segment of the digital economy, combining yield generation with ecosystem development to unlock long-term value [1].

Source:

[1] AlphaTON Capital Corp Launches TON Digital Asset Treasury Strategy for the Telegram Ecosystem (https://www.globenewswire.com/news-release/2025/09/03/3143942/0/en/AlphaTON-Capital-Corp-Launches-TON-Digital-Asset-Treasury-Strategy-for-the-Telegram-Ecosystem.html)