Line Corporation, which owns the LINE messenger, popular in Japan and abroad, has shared plans for the Link cryptocurrency to enter the Japanese currency market. Launched in 2018 by LINE Tech Plus with the participation of UNBLOCK and UNCHAIN, a coin with the LN ticker became available for purchase, sale and exchange of cryptocurrency on the international BITBOX exchange. Traders from all countries except Japan and the USA can trade this token, and only now its creators decided to change the situation.
Today, the circulating amount of Link currency is about 5 million coins, but the total limit is limited to 1 billion, 20% of which will be held by developers as a reserve.
One of the subsidiaries of LINE Corporation spoke about plans to issue LN tokens to the Japanese financial market LVC from the very moment the coin entered the global network. LVC Corporation is directly involved in blockchain and cryptocurrency business transactions, and is a member of the Japan Virtual Currency Exchange Association (JVCEA) and the Japan Cryptocurrency Association (JCBA), which ensures close cooperation with all the cryptocurrency exchange platforms that they inсlude. Currently, LVC plans to open Japanese traders access to the Link coin in April, but the exact date does not appear in the developers’ statements.
The Link cryptocurrency itself has a rapidly developing eco-system, the main role in the support of which is played by dApp developers. The creators of decentralized applications receive a certain amount of LN, which they then distribute among network participants based on their own reward policy. Link holders are given the opportunity to redistribute their income to work more effectively with the currency. In addition to using cryptocurrency exchanges on trading sites, this coin can be used in other areas. Link Token is accepted as a means of payment on many resources – they can pay for goods, loans, services, support the creators of audio and video content, make intra-system money transfers, and even use them to implement game microtransactions. LINE Tech Plus also reports that the LN token is suitable for paying commissions when exchanging cryptocurrencies at the best rate.
In the history of digital currencies, the integration of messengers and the cryptocurrency market is not new; Nevertheless, today this direction is gaining more and more momentum. Not so long ago, the creators of the popular Telegram application announced the release of their own coin, and disputes around the Libra project from the social network Facebook have not yet subsided. It is not yet known how such “social” coins will be regulated, however, their existence will greatly simplify the implementation of internal money transfers and the process of paying for purchases.