Line, one of the largest chat apps in Asia, will be presenting its own digital token in Japan on Bitmax, its own crypto exchange.
In a number of Japanese media, including Coin Post, the company made its announcement through its block-chain and crypto-currency subsidiary LVC – and aims to launch in April this year.
The link token first saw the light of day in 2018, when it was floated on the stock exchange by a Singapore-based subsidiary, and was made available on the crypto-currency exchanges offering the line in Asia.
However, Line was particularly interested in distributing the token in Japan, where it is said to have 82 million active daily users. In addition, the company received a license from the Financial Securities Agency last year to operate Bitmax in that country and has already integrated it into its chat app interface.
The company hopes to integrate Link into its chat app operations – and may attempt to distribute the token in reward programs that are tailored to its chat app operations.
Bitmax currently processes five major crypto currencies, including Bitcoin and Ethereum.
The company was founded by South Korean web giant Naver, which owns a 73% stake in Line.
Another South Korean chat application, KakaoTalk (owned by the Kakao Group), has also talked about listing its clay token on Asian crypto exchanges.
Analysts have claimed that Line and Kakao are already one step ahead of Facebook and Telegram – rival social media platforms whose own token launch plans have run into regulatory hurdles in Europe and North America.
Meanwhile, in December, Naver signed an agreement to merge Line with SoftBank’s Internet subsidiary, Yahoo Japan, to create a $30 billion technology giant that could better compete with the global Internet giants.