LINE Corp has announced TRON (TRX) as the first token addition to BITBOX, its recently launched cryptocurrency exchange platform. In another development, the company plans to set up a token venture fund via one of its subsidiary firms.

In a blog post published on Wednesday, LINE announced that TRX was the first token to pass the rigorous listing process of the BITBOX listing committee. Thus, the 11th-ranked cryptocurrency will be added to the platform. The announcement went on further to state that the token is available for trading on the BITBOX platform.

To commemorate the TRX listing, BITBOX plans to distribute 9 million TRX tokens to users. The TRX airdrop will end on August 22, 2018.

Commenting on the development, Youngsu Ko, the CEO of LINE Tech Plus, the company subsidiary that operates the BITBOX cryptocurrency exchange platform, said:

“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. We look forward to building a strategic partnership with TRON and offering our users the best experience available in the cryptocurrency space.”

TRON has been one of the more visible altcoin projects in the last few months beginning with its testnet launch in March 2018. By May 2018, the project launched its mainnet platform with a “network independence celebration” in June. The company also recently acquired BitTorrent.

Speaking on the TRX listing, Justin Sun, the TRON CEO said:

“We are very excited to partner with LINE on their launch into the cryptocurrency space. We will use our expertise in the industry to help LINE provide fast and secure cutting-edge crypto exchange services. By joining this vibrant project, we aim to reach a broader audience, extend our services to mobile, and connect the dots with our other products, which have more than 100 million users (BitTorrent, Peiwo, etc.). We are looking forward to working further with LINE on more product integration.”

Suggested Reading: Learn more about Tron (TRX) in our ‘What is Tron‘ beginner’s guide.

In another notable milestone for LINE, the company via Unblock Corp, one of its subsidiaries, has launched a token venture fund. The initiative is aimed at developing useful solutions in the nascent blockchain ecosystem. According to the announcement, the venture fund, called Unblock Ventures LTD., will have an initial capital outlay of $10 million.

LINE Corp expects to increase the scope of the fund in future. The company hopes to be at the forefront of adoption and development of cryptocurrencies and blockchain technology.

The post TRON (TRX) Added to LINE’s BITBOX Cryptocurrency Exchange, Line Launches $10 Million Token Venture Fund appeared first on UNHASHED.

180 +