LOGO_CRYPTO_SIGHT

Japan-based Messaging App Conducting Testing Of Native Token Beginning March

By | February 9, 2022
chat, message,

Users of Japan-based messaging heavyweight are reportedly going to have the ability to experience the app’s native token as a payment measure, through particular online merchants in a limited trial.

Specifically, the LINE Corporation reportedly revealed that beginning March 16th, users would reportedly be equipped with the feature of finalizing payments using native LINK token (LN) – which is different from Chainlink (LINK) – across any of LINE Pay’s online merchants.

The trial phase, with Dec. 26 being the deadline, will reportedly work towards the target of running testing for real-life use cases for the tokens, apart from amplifying the convenience and number of payment mediums for users.

LINE Pay further claimed that it is contemplating upon the scenario of adding extra crypto coins including Bitcoin (BTC) and Ether (ETH) to the list of its payment measures, aside from reinforcing its collaboration with blockchain entities. 

Insights generated by Statista reportedly suggested that there were 86 million monthly active LINE users as of the third quarter two years ago – over 68% of the nation’s total population of 126 million.

Introduced in August 2018, the LN token is currently trading at $142.78, witnessing an increase of approximately 22% in the last 7 days.

The token is reportedly open for public trading on crypto exchange Bitmax, after an agreement being finalized in August two years ago. As of the end of last year, there were a total of 30 crypto exchange establishments functioning in Japan, which received approval from the nation’s Financial Services Agency.

A consortium of Japan-headquartered financial establishments and high-profile corporations reportedly revealed in November their plan for conducting trials and introducing a yen-based digital currency in fiscal 2022.

Tags: , , ,

Comments