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The Japanese social networking app LINE has announced the creation of a $ 10 million blockchain fund on Wednesday, August 15, as part of its expansion into the cryptocurrency market.
Launched through a subsidiary subsidiary of Hong Kong, the fund contains funds from the affiliated company of LVC Corporation.
"In addition, the token fund for unlocked companies is expected to expand in the future, according to the growth of the blockchain market," the company commented in a press release, adding: [19659004] "With the launch of this new corporate token fund, LINE aims to enhance the development and adoption of cryptocurrencies and blockchain technology. "
The move, he says, makes LINE "one of the first companies listed on the stock exchange to formalize token investments through a corporate fund."
The Japanese giant continued with the integration of the cryptocurrency in 2018. Launch of release in April, the cryptocurrency exchange of the BITBOX platform later debuted in mid-July.
At the same time as the investment fund announcement, BITBOX confirmed that TRON would be the next cryptocurrency to start trading in its books.
The acquisition of TRON from the P2P platform operator BitTorrent Inc. in July, a LINE official mentioned, was an important stimulus for the decision.
As Cointelegraph reported before the launch, users in the United States, as well as the national jurisdiction of Japan, are nevertheless excluded from the use of the exchange due to regulatory difficulties.
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