The company that owns OKCoin will invest $100 million in the development of EOS

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