LINE, the Tokyo messaging platform with 84 million users, rolled out a cryptocurrency wallet and blockchain infrastructure yesterday. The wallet, called BITMAX, lets users hold digital assets and trade between different cryptocurrencies. The blockchain platform gives developers the tools to launch their own tokens, build decentralized applications, and issue digital assets on top of blockchain infrastructure.
LINE Releases Its Asset Wallet And Blockchain Offering
LINE, the Tokyo messaging platform with 84 million users, rolled out a cryptocurrency wallet and blockchain infrastructure yesterday. The wallet, called BITMAX, lets users hold digital assets and trad
Key Points
- LINE, the Tokyo messaging platform with 84 million users, rolled out a cryptocurrency wallet and blockchain infrastructure yesterday.
- The wallet, called BITMAX, lets users hold digital assets and trad
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LINE operates beyond messaging. The company runs LINE TV for video streaming, publishes comics through Line Manga and Line Webtoon, and distributes news via Line Today. The new wallet and blockchain offerings mark the company's push to build token economies and spur adoption of decentralized applications within its user base.
LINE issued its own token, LINK, back in 2018. A year later, the company launched Bitbox, a cryptocurrency exchange that secured a local business license. Those moves prefigured yesterday's announcements.
Other messaging platforms have ventured into crypto with mixed results. Kik Interactive created Kin, an ERC-20 token, in 2017 to use within its app ecosystem. The SEC's scrutiny of Kin's status as a security tanked its value. Kin lost 99% of its worth by 2019. Telegram attempted something similar with Gram, but ran into regulatory barriers from the SEC. Facebook's Calibra Project encountered the same resistance from financial regulators and government authorities.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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