Line – The freeware application for instant communications on mobile has established a brand new company token venture fund with $10 Mln in capital for startups within the blockchain and crypto business.
With its two hundred million monthly active customers globally, the company has proclaimed its entrance into the crypto ecosystem when it filed a registration application along with the launch of a new crypto exchange in Japan, earlier this year.
The company registered itself under the name ‘Bitbox’ proclaimed the launch of a brand new token venture fund below its subsidiary ‘Unblock Ventures’ in a very move to accumulate around 10 Mln in capital. The company claiming its aim stated that :
“We aim to boost this event and further help in the adoption of cryptocurrencies and blockchain technology for the coming future.”
The company also added that LINE is among the first companies to formalize token investments through a corporate fund.
Further, Line revealed its Bitbox has added support for TRX – A TRON’s native token. At press time, Bitbox’s support for TRX has seen the latter’s price soar nearly 100% in just one day (data from CoinMarketCap shows), . Following its listing, TRON is additionally rewarding Bitbox users with 9 Mln TRON tokens in a promotional event running till 22nd Aug. via an airdrop.