Cryptocurrency Offering By Japan’s Biggest Chat App

Line Corporation, a Japanese internet firm and also the operator of the country’s most well-liked messaging app, has added Tron (TRX) to its cryptocurrency exchange platform Bitbox. Tron is the 1st crypto-token to pass the review method by the Bitbox open-listing committee and joins different cryptocurrencies already available in the platform as well as Bitcoin, Ethereum, Litecoin, Ripple, and Stellar.

Bitbox, which said it had been currently focusing on increasing the range of choices available for customers, is accepting applications from different crypto-tokens that wish to join the exchange and that are ready to undergo a thorough evaluation process.

Tron is building the infrastructure for a decentralized internet. It launched its testnet in March, its mainnet in may, and testnet virtual machine on testnet in July. That same month, Tron acquired file-sharing software provider BitTorrent.

“Tron contains a solid tech platform, particularly now it has joined forces with BitTorrent,” said Youngsu ko, chief executive officer of Line tech plus, Line’s Singapore-based subsidiary that operates Bitbox. “We expect to building a strategic partnership with Tron and offering our users the best experience obtainable in the cryptocurrency house.”

New token venture fund

Line has also declared the launch of a new US$10 million token venture fund called Unblock Ventures. The fund will focus on token investments with an initial commitment made by LVC Corporation, another Line group company. The fund is expected to expand in the future, according to the expansion of the blockchain industry.

By launching the new corporate token fund, Line said it aims to “boost the development and adoption of cryptocurrency and blockchain technology.”

Line unveiled plans to get into the fintech business earlier this year. The firm established a new company, Line financial Corporation, as a follow-up to Line Pay and to further reinforce its position in monetary services.

The new company focuses on making and providing a variety of monetary services that tackle cryptocurrencies, lending, and insurance, all from the line messaging app.

Line is also considering applications of blockchain technology in countries with underdeveloped financial infrastructure to enable services such as the flexibility to pay utility bills via mobile phone.