February 4, 2020 – Messaging App LINE subsidiary LVC Corporation is going to launch its LINK Cryptocurrency in Japan this April 2020.
In a press release, LINK is already trading on BitBox, LINE’s international cryptocurrency exchange since 2018. Only now is it able to launch it in Japan via its BitMax cryptocurrency exchange in accordance with the Japan Virtual Currency Exchange Association. Link will allow its users access to services and decentralized applications, according to LVC.
Cointelegraph noted LINE is just one of the big messaging apps that are trying to establish their own crypto ecosystems. Kik, Telegram, and even Facebook have done so. However, Kik and Telegram are in legal battle with the US Government for selling tokens to US Citizens (the US Government is of the opinion that their tokens are classified as unregistered securities.) Facebook is trying to launch the cryptocurrency Libra, which it says is meant for widespread financial inclusion. However, the US Government and other countries are blocking its launch. Facebook said it will only launch once all regulatory hurdles are resolved.
In September 2019, LINE launches BitMax cryptocurrency exchange in Japan following the approval from Japan’s Financial Services Agency. At that time, there was no trading fee while deposits and withdrawals are done via LINE PAY. Beginners in crypto trading can make transactions for as low as $9 in the app.
This article is published on BitPinas: Messaging App Line Launches Link Token