Following the establishing of LINE Pay, a mobile service that allows investors in LINE to make payments and perform transactions at their fingertips, LINE Corporation has created LINE Financial Corporation. LINE Pay helped the company with major growth, and the creation of LINE Financial Corporation would not have been possible without it. Their transactions added up to JPY 450 billion.
LINE Financial Corporation is part of an effort from LINE to ensure themselves a firm standing in the financial business world, along with the cryptocurrency world. The financial services that LINE offers will be integrated to the LINE Pay app, which means that they can still use it to transact virtual currencies, start loans, and all the other services they use with cryptocurrency. At the moment, the company is still working to hire experts in the financial field.
The overall goal for the financial corporation appears to be the same as the cryptocurrency community as a whole – progressing towards a cashless and wallet-less industry. The company will have an application for participants to fill out, though the format is presently under review still.
Along with efforts towards greater financial expansion of LINE, the company has also developed LINE Plus, which created blockchain technology in South Korea called Unblock. Unblock will help LINE to extend their services to South Korea, Japan, and Southeast Asia.
Other messaging services, like Kakao and Kik, are attempting to follow the same suit, adopting cryptocurrency into their smartphone apps. In fact, in 2017, Kik released an ICO of their own for their coin, KIN. The ICO raised over $100 million, and the KIN coins are available on Stellar and Ethereum.
To learn more about LINE, visit https://linecorp.com/en/.