Messaging app Line heads directly into cryptocurrency trend


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The Line Friends Shop in Tokyo’s Harajuku district.

Toshifumi Kitamura/ AFP/GettyImages

There are currently cryptocurrencies based upon celebs and memes. Up next is one connected to adorkable bears, bunnies and duckies.

A popular Japanese messaging app called Line is taking the cryptocurrency bait.


Cute and crypto.


Line stated Friday that it will introduce a cryptocurrency inSeptember The business will administer virtual coins, called Link, as benefits for utilizing Line services or the apps that survive on the messaging app. In turn, the user can utilize Link to spend for products and services used by apps on the platform.

“The accelerated development of the crypto economy and blockchain technologies has created a wide range of options for new types of businesses. To keep up with these trends, Line has decided to launch our own cryptocurrency and blockchain network,” stated Youngsu Ko, CEO of Line Tech Plus, the provider of Link, in an emailed declaration. “Line intends to be a pioneer in the blockchain/crypto field, using our status as a global mobile platform and a listed company to take the initiative with the first cryptocurrency.”

It’s simply the most recent business to hop onto the cryptocurrency trend, partially sustained by bitcoin’s meteoric increase in 2015. The buzz over cryptocurrency and blockchain-powered, well, anything has actually caused cryptocurrencies like Dogecoin, based off a meme, and another one for YouTubers and their fans.

Unlike other cryptocurrencies that have actually gone public, Link will not have a preliminary coin offering. Due to the absence of regulative approval, Link is presently offered in the United States, however not in Japan due to regulative factors. Line deals Link Point in Japan rather.

Line is a extremely popular messaging app, specifically in Asia It has a series of charming characters called Line Friends that are made into product and luxurious dolls. There are 108 Line retailers around the world, consisting of one in New York’s TimeSquare

The messaging app has actually been branching off with other items. In 2017, Line partnered with moms and dad business Naver, a South Korean search giant, to produce an AI platform called Clova, like Amazon’sAlexa Line likewise partnered with drone maker DJI previously this month to introduce a small drone that included Brown, the bear in LineFriends

First released on August 31, 9: 13 a.m. PT.

Corrections on September 4, 6: 42 a.m. PT: Link is presently offered in the United States however not in Japan due to regulative factors.

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