LINE App Opens $10 Mln Investment Fund to Support Blockchain Startups

  • Yuri Molchan
    📰 News

    The fund will be launched under LINE’s subsidiary Unblock Venture with $10 bln of capital. Its goal is to enhance the creation & utilizing of digital decentralized coins

LINE App Opens $10 Mln Investment Fund to Support Blockchain Startups
Cover image via u.today

 

The fund will be launched under LINE’s subsidiary “Unblock Ventures” and has a capital of $10 bln. Its goal is to enhance the creation and utilizing of digital decentralized coins and the technology of the distributed network by making investments into startups.

The largest messaging app in Japan, LINE boasts 600 mln of registered users and 200 mln users active on a monthly basis.

Now LINE is in the line of publicly traded companies which is set to make token investments regular by launching a corporate venture fund.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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