News ID: 230578
Published: 0728 GMT August 31, 2018

Japanese messaging app operator LINE to launch cryptocurrency

Japanese messaging app operator LINE to launch cryptocurrency
The logo of LINE Corporation is seen at the company's headquarters in Tokyo, Japan, on January 25, 2017.

Japan’s LINE Corporation said on Friday it will launch a cryptocurrency in September, as the company tries to build up a wide range of businesses using its popular messaging app as a platform.

The company said the digital coin ‘LINK’ will be given as rewards to users of its services and could be traded with other cryptocurrencies at its crypto exchange, BITBOX, Reuters reported.

The coin is not available for users in Japan and the US for regulatory reasons, it said,

LINE said LINK digital coins would be used as payments or rewards within its blockchain-based app services.

LINE Corporation was renamed from NHN Japan Corporation on April 1, 2013, and operates the LINE, NAVER matome, and livedoor web service businesses.

Since launching LINE in June 2011, LINE Corporation has placed the core of its business upon the service and actively pushed for the further expansion of the service on a global scale, as well as accelerating the development of LINE as a platform.

LINE Corporation is a Japanese subsidiary of the South Korean internet search giant Naver Corporation. The company's business is mainly associated with the development of mobile applications and Internet services.



Resource: Reuters
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