OK Blockchain Capital, a venture capital firm owned by OK Group, recently announced a major investment of $100 million in projects using the EOS network.
“Having studied EOS technology and assessing its capabilities, we decided to organize our first programs for the blockchain industry with the cooperation of EOS.io. OK Blockchain Capital will contribute to the growth and expansion of EOS,” stated a statement on the official website of OKCoin.
The statement also said about opening new business incubators in countries such as the United States, Singapore and Switzerland, in addition to those already existing in Hong Kong and South Korea. $100 million will also be allocated to promote EOS around the world and provide assistance to startups based on their platform.
After the announcement, the price of EOS increased to $10.50, just yesterday it was $9.29.
OKCoin is headquartered in Beijing, however, the company has recently begun expanding its operations in South Korea, perhaps due to concerns that Chinese regulatory pressure on cryptocurrencies could increase further, ultimately forcing the company to change country.
On the other hand, some politicians in China are beginning to sympathize with and support cryptocurrencies. The new central bank governor has called for organizations to “deeper study cryptocurrencies and their application in the real economy.”
If political pressure on cryptocurrencies eases, companies like OK Group will be in a better position to help develop promising projects that can help grow the cryptocurrency ecosphere by investing in the most worthwhile ones.
According to https://cryptovest.com
You May Also Like
Stellar Dolphin fork set for August 30th
The Stellar Dolphin fork is scheduled for August 30th. The opinions of the crypto community are divided. Reddit users are sure that Dolphin is a scam with empty promises; the developers are convincing of the need for a fork and new features.
The mystery of EOS or when will the main network be launched?
The longest and largest ICO, worth more than $4 billion, has ended, the release of EOSIO 1.0 has taken place, and the launch date of the EOSIO main network remains a closely guarded secret.
