A new player has entered the game: the LINE cryptocurrency venture fund. The instant messenger company has launched its own crypto venture fund under its subsidiary “unblock ventures ltd.”
The LINE cryptocurrency venture fund is a corporate token venture fund, with USD 10 million that will be used to invest in blockchain-related startups. The capital commitment comes from LVC Corporation, which is another company under the LINE group. It is expected that the fund will grow in the future, depending on the development of the blockchain sector.
In a press release, the company states that it “is aiming to boost the development and adoption of cryptocurrencies and blockchain technology. As such, LINE is one of the first publicly traded corporations to formalize token investments through a corporate fund.”
Additionally, LINE announced that it has added TRON (TRX) to its cryptocurrency exchange BITBOX. In line with the addition of TRON, BITBOX is holding a 9 million TRX airdrop event. The event will run until August 22, 2018.
Leave a Reply