Japanese biggest social network Line launches “Link” in the domestic market

Japanese leading social network Line social network has reported the launch of its digital currency called ‘Link’ in the domestic market from April. The token has previously been available in all countries except Japan and the US.

Image via LINE Corporation

Line network made its first move into blockchain in early 2018, when it announced plans to launch a cryptocurrency exchange within its chat platform.

After going through many negotiations with the Japanese regulators, Line finally launched the Bitbox exchange in July 2018, but not including in its app, and excluding Japanese and US users.

In October 2018, Line launched the Link (LNK) cryptocurrency and listed it on Bitbox to compete with other cryptocurrencies such as Bitcoin, Ether, and Tether. Still, it has still not been available in the Japanese domestic market, which Line initially attempt to serve.

Domestic users will approach Link soon

Since the international presence, LVC, Line’s subsidiary operating the digital currency and blockchain business, has been planning to roll out LKN in the Japanese market. This has involved working with the Japan Virtual Currency Exchange Association (JVCEA), which has a process to handle new digital currency.

A system for Link’s Japanese debut has been planning, the exact date of which will be announced in due course. “Link” will also be listed on the Bitmax cryptocurrency exchange, although details are still being finalized.

An emerging trend

While the transition from social media to digital currency may once have seemed impossible, it is becoming a popular option. And who can stop social media networks form attempting to monetize their users further?

Do not forget Facebook’s much-publicized push into the digital currency industry, with its proposed Libra currency. Despite reservations and even total prohibition from authorities around the world, Libra recently published an updated road-map aiming for the 2020 launch.

If Link’s Japanese launch sees it succeed as its initial promise as a currency system for Line social media users, then we will see on a local scale the potential that these two international social networks may eventually achieve.

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