Japan’s Line Social Network To Launch ‘Link’ Cryptocurrency

Japan’s Line social network which is the largest in Japan, just announced the launch of its own digital currency named Link. The token was available initially in all countries except US and Japan so let’s read more about it in the latest altcoin news today.

According to the announcement, Line made its first move into blockchain back in 2018 when it announced the plans to launch a crypto exchange along with its Chat app. After a lot of considerations and discussions with the regulators of the country, Line launched the Bitbox exchange in 2018 but excluded the US and Japanese users.

In 2018, Line launched the LINK cryptocurrency and had it listed on the Bitbox exchange with initial trading pairs such as Ether, Tether and Bitcoin. At this time it was still not available on the Japanese domestic market which Line initially wanted to do.

Since the launch, the subsidiary of Japan’s Line, LVC started preparing to roll out the coins in the Japanese market which involved working with the Japan Virtual Currency Exchange Association and then proceeded to handle new digital currency. LVC is now preparing for a system for Link’s Japanese debut but at the time we don’t have an exact date of the launch. There are plans to list Link of Bitmex but the details are still being finalized. The move from social media to digital currency seemed like an unlikely one but it is becoming a favorized option.

Telegram even raised $1.7 billion in an initial coin offering for the embedded in-chat cryptocurrency service and it has since been locked in a court battle in the US, facing accusations of holding an unregistered securities sale by the securities and exchange commission. At the same time, Facebook tried to enter the digital currency industry with Libra but authorities from around the world didn’t get on board with it so now Libra published a new-updated road map for 2020.

The recent months have shown that Facebook’s initial partners departed the venture and the European Central Bank even suggested that the banks should find a better alternative rather than Libra, while Australian authorities chose to ban Libra overall.