Japanese Line Launches $10M Token Venture Fund

Line Corporation, the parent company of a leading mobile application in Asia, has announced the creation of a $10 million fund aimed at investing in cryptocurrency startups. This initiative was revealed on Wednesday.

The company intends to expand the funding for this investment project in response to advancements in blockchain technology. The fund, named Unblock Ventures, will primarily target emerging businesses that are developing innovative ideas based on cryptocurrency technology.

Blockchain, the foundational technology behind digital currencies such as Bitcoin and Ethereum, has found applications beyond just cryptocurrencies. Originally developed as a distributed ledger technology (DLT), it has been adopted across various sectors, including sports, agriculture, banking services, and more.