Icon Partners with Singapore VC Firm Trive, ICX up 24%
It seems that not a day goes by in Southeast Asia without a crypto partnership announcement. The region truly has become the hub of everything crypto as the US continues with strict regulation and investigation into the embryonic industry.
Today South Korea’s Icon announced that it will be partnering with Singapore based Venture Capital firm Trive (previously known as ‘TRi5 Ventures’). According to the announcement the strategic collaboration is the first of its kind in the VC industry in Southeast Asia. It is aimed to educate, equip and empower the regional startup and blockchain community. Trive invests in technology startups and has over seven years of VC, mentoring and advisory experience.
Icon is often referred to as Korea’s Ethereum, whereas instead of being a straight out dApp platform it serves more as a network or web to connect various blockchains together and strives to develop a global standard for interoperability. The two parties will be leveraging Icon’s technological expertise with Trive’s regional network to develop Icon based blockchain courses for educational institutions in the region.
Trive will also assess startups and provide expedited access to Icon support for blockchain development with the overall goal being “to unify various blockchain assets across the region to realize the potential of blockchain for Southeast Asian economies.”
Foundation Council Member of Icon, JH Kim said;
“The partnership with TRIVE will allow ICON to not only educate the public on blockchain technology, but also expand ICON’s ecosystem and community. Singapore and Vietnam are at the center of blockchain innovation in Southeast Asia, and we are excited to work with TRIVE to further realise the full potential of blockchain in this region.”
While Trive partner Yi Ming Ng stated;
“Our strategic partnership with the ICON Foundation will enable us to equip our startups and community with intellectual and relationship capital leveraging the technology and expertise of ICON, one of the largest global blockchain networks. Our mission has always been to create value for startups beyond just providing funding. This strategic partnership further reinforces our mission and helps us be more relevant in the era of the blockchain.”
Icon’s token ICX has been performing well during today’s trading, with gains of 23.5% on the day. At the time of writing ICX was trading at $2.75, up from yesterday’s monthly low of $2.21. It reached an all-time high on January 10 of $12.40 and is considered one of the high potential cryptocurrencies of the moment for its unique approach to blockchain cross operation and standardization between major industries.