Japan’s Top Messenger App LINE Partners with Nomura Holdings to Form a Blockchain Alliance
LINE, a major messenger app from Japan, has recently decided to sign a Memorandum of Understanding (MoU) with a Japanese financial giant called Nomura Holdings. The partnership between the two companies will see they creating a blockchain alliance, according to the official documents.
Nomura Holdings is a provider of investment advice and financial services for people and corporations, as well as governmental agencies. LINE is also a client of the company. Now, Nomura, LINE and the LVL Corporation have signed the contract to oversee the messenger’s digital asset and blockchain business.
The partners are set to create an alliance focused on the blockchain technology, but at the moment the details that were revealed to the media are very scarce.
Before today, both LINE and Nomura Holdings have already partnered up in successful ventures together. In 2018, both of them reunited to set up a company that could be able to provide securities brokerage services. Each company would have basically half of the business, with LINE having just a little bit more than Nomura Holding.
However, despite the partnership, the company was not launched at the moment of this report, which can be a sign that the partnerships between the companies are very popular, but they may need some time until they actually happen for real.
LINE And Crypto Products
It is widely known that LINE is very interested in the crypto world right now. The company is directly involved in the making of several products that are linked to this field. It has also announced that it would launch its own crypto exchange soon and also offer in-app trading services for its users on the main messaging app, which has a user base of over 200 million active users.
LINE’s in-app currency, LINK, was launched last year and it is an important part of the company’s expansion into the crypto world. There is a total of 1 billion tokens and 20% of them are the reserves of the company at the moment.
Since the launch of these tokens, they were mainly used as a way to pay for the services that are provided by the company.