Crypto is set for a big 2020 mainstream push by tech giant Line. The social messaging powerhouse features a free app across a range of mobile devices that allows over 700 million people to send texts, images, video and audio, making Line the biggest messenger platform in Japan – and now it wants to build an entire crypto ecosystem.
Line will launch its crypto asset called “Link” for trading in Japanese markets as early as April.
Link is a general-purpose utility token that the company says can be used for a wide range of services. Users will be able to earn Link through mobile apps on the platform.
“The DApp developers give rewards to contributors in the form of LINK based on their own reward policy. Once users acquire LINK, they can use it to pay for things within the service or to get a variety of benefits. DApp developers can then re-distribute their LINK income, creating a virtuous cycle. In the exchange, users can change LINK to fiat money or other cryptocurrencies.”
In October of 2018, Link initially began trading on BitBox, Line’s digital exchange, and has been available to traders worldwide, excluding the US and Japan.
Line says it plans to introduce Link tokens in accordance with rules established by the Japan Virtual Currency Exchange Association, a self-regulatory body that is officially sanctioned by Japan’s Financial Services Agency to oversee the crypto industry and enforce transparency, anti-money laundering policies and security protocols.
Line is reportedly creating a new system to prepare for Link’s introduction in Japan. The token’s exact launch date will be confirmed in a separate announcement.
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