Japanese messaging application LINE has opened a venture token Fund, with a capital of $ 10 million through the newly established subsidiary Unblock Ventures.
LINE announced the opening of the Fund on Wednesday. He will focus on investments in blockchain startups and promote the development of this sector.
Although to manage the Fund will be the company valley Ventures, which was established in Hong Kong in July of this year, $ 10 million for the Fund was provided by the firm LVC Corporation – another “daughter” LINE. The company said that in the future will increase the capital of the Fund; size of new investments will depend on the development of the blockchain industry.
However, this Fund is only part of a broader initiative LINE to enter the cryptocurrency market. For example, just a month ago, the messenger has officially launched its capturadora platform Bitbox.
Today the LINE also announced that the listing will appear Bitbox TRX – own token blockchain platforms TRON. TRX was the first cryptoprocta tested and approved for trading on the stock exchange special listing Committee of the Bitbox.
In April it became known that the LINE plans to open in South Korea, a subsidiary company that will deal with the study of the blockchain and the development of applications that use this technology.