TON Foundation names ex-Visa exec Nikola Plecas as VP of payments

The TON Foundation has announced the appointment of Nikola Plecas, a fintech expert and former Visa executive, as its new Vice President of Payments.

The Open Network Foundation confirmed that Plecas will assume the role with immediate effect. His appointment is an important step in making TON a global leader in the payments industry.

In his new capacity, Plecas will oversee the design, development, and expansion of TON’s payment systems. His mandate includes driving integration with financial institutions, ensuring regulatory compliance, and creating secure, scalable solutions for Telegram’s over 1 billion users.

From Telegram-led to community-owned (2017–2020)

TON began in 2017 as Telegram’s blockchain vision to support decentralized apps and payments for its 200 million users. In 2018, Telegram raised $1.7 billion in a private ICO for its Gram token. 

However, in 2019, the U.S. SEC halted the project, classifying the token as an unregistered security. Telegram eventually withdrew in 2020, refunded $1.2 billion, and open-sourced the code, passing development to the community.

After Telegram stepped back, developers revived the project under the TON Foundation, renaming it The Open Network with Toncoin as the native token. The mainnet launched in 2021 with a proof-of-stake model. Although Telegram no longer controlled it, the platform remained loosely aligned with its original vision.

Telegram re-engaged by integrating TON features like the @wallet bot and Fragment platform for username sales. In 2023, Telegram launched TON Space, a built-in wallet, contributing to over 100 million on-chain wallets. The user base grew to 800 million, fueling adoption.

TON exploded in use with mini-apps, memecoins, and games like Hamster Kombat. Daily transactions hit 1.2 million, and TVL surpassed $700 million at its peak. Telegram, with 950 million users, made TON its exclusive Web3 infrastructure in 2025. Stablecoins like USDT were integrated, and wallet features expanded to include staking and trading. There is also a vision to further extend TON’s reach into the payment ecosystem.

Read also: Libre and TON launches a $500M Telegram on-chain Bond 

Plecas to influence global payment

Joining the TON Foundation, Plecas sees a significant opportunity to influence global payment methods. He notes that Telegram, with its over a billion users, is experiencing rapid innovation on the TON blockchain.

The new vice president will collaborate with TON ecosystem partners to build out interoperable payment rails and increase accessibility to TON-based financial products and services across key markets.

Plecas brings to TON a strong track record in digital payments and crypto innovation. At Visa, he led global commercialization efforts within the crypto division, contributing to early-stage product development and forging partnerships with major players in the financial sector.

Among his achievements at Visa, he spearheaded global on-ramp optimization and shaped the digital currency engagement model for clients across Europe. He also supported numerous fintech and crypto issuance projects worldwide and served as a key spokesperson for Visa at major industry forums.

TON Foundation CEO Max Crown expressed confidence in Plecas’ appointment, noting the critical role of payments in the foundation’s mission to deliver decentralized services to the mainstream.

“Payments are central to TON’s mission of delivering decentralized services to mainstream users,” Crown stated. “With deep industry expertise and a clear vision for scaling payment infrastructure, Nikola brings the experience and leadership we need to accelerate TON’s global growth.”

As TON continues to expand its reach and refine its decentralized finance capabilities, Plecas’ expertise is expected to help position the blockchain as a leader in Web3-ready payments infrastructure.