Social media giant LINE’s in-house crypto-to-crypto exchange dubbed as BitBox has been home to tens of thousands crypto enthusiasts looking to trade cryptocurrencies through an easy-to-use mobile platform. The platform has now included Tron (TRX) in BitBox’s listing committee. As a support system for Tron and an unexpected $10 million token venture fund has been launched.
Tron will now be available for trading on BitBox via multiple new trading pairs, such as TRX/BTC and TRX/ETH. To celebrate, LINE has partnered with Tron to airdrop nine million TRX tokens to all BitBox users “in a promotional event running until August 22nd.”
Youngsu Ko, the CEO of LINE Tech Plus, a Singapore-based subsidiary that runs BitBox, issued a statement:
“Integrating TRON (TRX) with BITBOX will enable us to connect with the world’s fastest-growing blockchain project. TRON has a solid tech platform, especially now it has joined forces with BitTorrent.”
In addition, Line noted that Tron’s addition marks an initiation to ensure that their customers have access to a diverse set of “coin options,” aided by an easy-to-use, efficient, and secure user-centered service.
LINE today announced an important new development in its cryptocurrency businesses – the BITBOX Exchange has added the coin project TRON (TRX) to its listings. TRON is the first coin project to pass the review process by the BITBOX open-listing committee. https://t.co/cpYXtDLm3f pic.twitter.com/v91hytIM1F
— LINE Global (@LINE_Global) August 15, 2018
Justin Sun, CEO of Tron, is obviously excited by the move and noted that the collaboration between the two firms will prove to be successful, via an impassioned statement.
Alongside, the announcement of TRX’s addition, LINE also introduced their Unblock Ventures. A new subsidiary aimed at becoming a “corporate token venture fund,” being launched with a capital allocation of $10 million USD. For the time being, the Hong Kong-based Unblock fund’s main focus will be investing in token investment vehicles.
The Asian social media giant has plans to expand the fund way more than its initial $10 million, alongside the growth of the blockchain industry. If the Unblock Ventures works as per LINE’s plan, it should help boost the development and adoption of cryptocurrencies and the blockchain technology throughout the world. The firm elaborated further:
“By launching this new corporate token fund, LINE is aiming to boost the development and adoption of cryptocurrencies and blockchain technology. As such, LINE is one of the first publicly traded corporations to formalize token investments through a corporate fund.”
Arshmeet Hora
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.
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