Line launches cryptocurrency venture fund

Instant messenger company Line announced that its subsidiary Unblock Corporation has established Unblock Ventures.

It is a corporate cryptocurrency venture fund and has a capital commitment of $10 million by LVC Corporation – another company in the Line group.

The fund will expand in future according to the growth of the blockchain market, said Line.

“By launching this new corporate token fund, Line is aiming to boost the development and adoption of cryptocurrencies and blockchain technology,” the company said.

Line also announced that the Tron token has been added to Bitbox, it’s cryptocurrency exchange.

Tron is the first coin project to pass the review process by the Bitbox open-listing committee, added Line.

To celebrate Tron’s listing on Bitbox, 9 million Tron coins will be airdropped to users on the platform until 22 August 2018.

Tron recently acquired BitTorrent, stating that users of the file-sharing technology will be integrated into the Tron ecosystem.

Now read: BitTorrent’s new owners — What crypto experts have to say

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Line launches cryptocurrency venture fund