Cryptocurrency General News ICO

Line messenger sets up a $10 million Blockchain venture fund

Venture capital

On Wednesday, August 15th Line, a Japanese social messaging giant announced that it would be setting up a $10 million blockchain fund called Unblock Ventures.

The new venture would invest in early stage blockchain startups. This step was taken so that the company could expand into the cryptocurrency market. Unblock corp. is a subsidiary of Line.

Line said in a press release “Unblock ventures token fund is expected to expand in the near future, on the basis of the growth of the blockchain and cryptocurrency market.” and with the launch of this new fund, the company is looking to increase its adoption and development of blockchain technology and cryptocurrencies.

Line would be one of the few publicly traded companies to invest into tokens via a corporate fund.  

Unblock was launched in June and the Japanese tech giant soon after launched BitBox, a cryptocurrency exchange in mid-July.

Tron (TRX) was later listed in on the BitBox exchange at the same time while announcing the fund.

About the author

mm

Jimoh Abdullahi

An Engineer (B.Eng, M. Eng Biosystems Engineering) and freelance writer. Stacey covers cryptocurrency, the Blockchain technology, and ICT topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how technological advancement is disrupting the world as we have known it.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *

Subscribe

Subscribe to get the latest cryptovevo news!
1
Bitcoin
Bitcoin
$4,031.33
-0.11%
2
Ethereum
Ethereum
$139.63
-0.69%
3
XRP
XRP
$0.3148
-1.02%
4
Litecoin
Litecoin
$60.358
-1.88%
5
EOS
EOS
$3.748
-1.09%
6
Bitcoin Cash
Bitcoin Cash
$161.00
2.12%
7
Stellar
Stellar
$0.1172
7.27%
9
Tether
Tether
$1.0110
0.07%
10
TRON
TRON
$0.022909
-1.44%
11
Cardano
Cardano
$0.050421
0.05%
13
Monero
Monero
$53.602
-0.13%
15
Dash
Dash
$92.503
-1.14%
17
NEO
NEO
$9.236
-0.87%
21
Zcash
Zcash
$54.607
-0.76%
29
Bitcoin Gold
Bitcoin Gold
$13.392
-0.12%
42
0x
0x
$0.2618
-1.83%