As reported previously by Ethereum World News, the social media giant LINE has announced the creation of an internal crypto-to-crypt exchange with the name of BitBox. In the original announcement of LINE, the company stated that it would offer the exchange of thirty cryptocurrencies with a 0.1% commission, with the press release mentioning only the major cryptocurrencies offered. Furthermore, it was noted that the Crypto-to-crypto service of BitBox would be opened globally, offering exchange options to consumers in all countries, but Japan and the United States
. From our original report, BitBox has been officially launched and is now home to tens of thousands, if not hundreds of thousands of individuals trying to exchange cryptocurrencies through an easy-to-use mobile platform.
But with today's announcement, LINE launched support for Tron (TRX) and an unexpected 10 million dollar risk fund token. Tron, which was recently confirmed by the BitBox listing committee, will now be available for trading on BitBoxes via new trading pairs, such as TRX / BTC and TRX / ETH.
To celebrate the listing of TRX, the Asian social media giant collaborated with Tron to distribute nine million TRX tokens to all BitBox users "in a promotional event running until August 22nd".
Youngsu Ko, CEO of LINE Tech Plus, a branch based in Singapore that operates BitBox, has issued a statement based on this move, which seems to show affection towards the project, writing:
"Integrate TRON (TRX ) with BITBOX will allow us to connect with the fastest growing blockchain project in the world.Trans has a solid technological platform, especially now it has joined forces with BitTorrent. "
In a further comment, Line noted that adding Tron (TRX) is one of the first steps to ensure that its customers have access to a diverse set of "coin options", helped by an easy-to-use, efficient and secure user-centric service.
Concluding this segment of the press release, Tron's CEO, Justin Sun, expressed his excitement through a passionate declaration regarding the addition, noting that the collaboration between the two companies will be revealed successfull.
Line Launches "Token Venture Fund"
As already mentioned, the addition of TRX was not the only announcement mentioned. LINE has also launched Unblock Ventures, a new branch destined to become a "corporate token venture fund". The Hong Kong-based Unblock fund will be launched with a capital allocation of $ 10 million USD and will focus on investing in coin-operated investment vehicles. for the moment.
However, $ 10 million will not be all and will all end at Unblock, as LINE plans to expand the fund along with the growth of the blockchain industry. If everything goes according to plan, Unblock Ventures should contribute to enhancing the development and adoption of cryptocurrencies and blockchain technology worldwide. The company has elaborated and written:
"With the launch of this new corporate token fund, LINE aims to enhance the development and adoption of cryptocurrency and blockchain technology. As such, LINE is one of the first publicly traded companies to formalize token investments through a corporate fund. "
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