Binance Labs, the $10 billion venture capital and incubation arm of the crypto exchange Binance, has invested an undisclosed sum in Pluto Studio, the publisher of the popular Telegram game Catizen that is built on The Open Network (TON) blockchain.

While Binance Labs did not disclose the size of the investment, Ricky Wong, co-founder of Pluto Studio, told The Block the venture firm solely invested in Pluto in a round structured as an equity, strategic II round. Wong said discussions with Binance Labs began recently and the round closed last week.

Pluto Studio has previously raised two rounds — a $2.2 million seed round and a $4 million strategic I round — Wong said, adding that HashKey Capital and The Open Platform (TOP) were among the investors in the strategic I round. HashKey Capital …