Japanese customers can’t use the new cryptocurrency on Line’s messaging app
Line Corporation, a Japanese messaging app company whose shares trade on the Tokyo Stock Exchange and the NYSE, on Friday announced the launch of its own blockchain network (Link chain) and cryptocurrency (Link). The $11 billion company has the built-in customer base that most digital currency startups can only dream about. By some estimates, it boasts nearly 200 million users—and it didn’t even conduct an ICO.
Unfortunately, licensing requirements will prevent Line’s customers in Japan and the US from actually using its new currency, at least initially. Since 75 million of Line’s monthly active users are located in Japan, this could undermine the benefits of its large customer base.