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Jack Ellis · · 1 min readIn brief: Line establishes $10m crypto fund
Photo credit: Line
Line launches US$10 million digital token fund (Japan). Named after the South Korean subsidiary that will manage it, Unblock Ventures will seek to invest in tokens issued by early-stage blockchain startups. LVC Corporation, another Line affiliate, is the Hong Kong-domiciled fund’s sole backer.
Line also announced that Bitbox, its Singapore-based cryptocurrency exchange that commenced operations last month, has listed TRX coins issued by the Tron blockchain project. An airdrop will see 9 million TRX distributed to Bitbox users between now and August 22. (Line)
Other news
Coinhako takes digital wallet to Indonesia (Singapore). The app allows users to store and trade Bitcoin, Bitcoin Cash, and Ether, and will add Indonesian rupiahs as a conversion option alongside Singapore dollars and Malaysian ringgit. Indonesia has banned the use of digital tokens for making payments, but regulators in the country recently declared cryptocurrency to be a tradable commodity. (e27)
Editing by Eileen C. Ang
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