Japan’s LINE launches a blockchain platform allowing central banks to develop digital currencies

According to South Korean news agency The Chosun Ilbo reported on Oct. 19, Line Corporation, a Tokyo-based subsidiary of South Korean internet search engine company Naver Corporation is building a platform for developing central bank digital currencies.

Line aims to support the development of a so-called “customized CBDC.” A representative reportedly said, “We want to provide CBDC platform technology to several central banks interested in CBDC.”

Line has been implementing a strategy of growing virtual assets and blockchain services together since 2018, when the ICO boom occurred. In 2018, Line introduced its own blockchain technology and a virtual asset’Link’ based on it. In August 2020, it launched a blockchain development platform for decentralized applications and services and a digital asset wallet named Bitmax. Earlier this year, Line’s crypto subsidiary LVC Corporation launched trading of its proprietary cryptocurrency Link (LN) in Japan.

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