LINE launches its own cryptocurrency, LINK

01 Sep, 2018
by David Robb
News
LINE launches its own cryptocurrency, LINK

The company behind popular messaging app LINE has announced the launch of its own cryptocurrency. Based on the LINK blockchain, LINK tokens will be rewarded to users of dApps in the LINE ecosystem.

The distribution of LINK to users of LINE dApps mean that, unlike with many new crypto projects, there will be no ICO for LINK.

According to LINE CEO Takeshi Idezawa, "(with) LINK, we would like to continue developing as a user participation-based platform, one that rewards and shares added value through the introduction of easy-to-use dApps for people’s daily lives."

The LINK tokens will be traded exclusively on LINE Corporation's own BitBox digital asset exchange, and they can also be used to buy products and content, and to make transactions in games and social media platforms. 200 million of the 1 billion total LINK tokens will be kept in reserve and managed by LINE Tech Plus, which is based in Singapore. 

Due to the country's crypto regulations, LINK will not be available in Japan, despite this being the biggest market for the Tokyo-based LINE Corporation. This was also the case for BitBox. Instead of LINK tokens, Japanese users will receive non-tradable LINK Points. 

Read more: Line launches BITBOX, just not in Japan and North AmericaMessaging giant LINE launches $10 million blockchain venture fund

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