LINE Group companies, LINE and LVC Corporation have revealed its signing of a pooling agreement with financial firm Nomura Holdings that will see the companies join forces to develop new blockchain projects.
In January, the companies inked a memorandum of understanding (MoU) on forming an alliance focused on blockchain technology.
This latest partnership is also seeing Nomura investing in LINE subsidiary LVC, as LINE looks to venture beyond messaging services. With blockchain technology, LINE could potentially serve as a platform for users to trade cryptocurrency.
The company has already embarked on several crypto and blockchain projects, with the most recent being the launch of LINE’s BitMax cryptocurrency exchange in Japan.
Nomura Holdings has meanwhile invested US$14 million in Securitize, a Coinbase-backed token issuance protocol.
LINE has been one of the most successful mobile applications in Asia. Since its launch in 2011, the messenger is now used across the continent in places such as Indonesia, Taiwan, Japan, and Thailand. In Japan alone, LINE boasts 81 million active users.
The app is also looking to expand into other parts of the world, receiving some success among users in South America.
Last year, LINE unveiled its own public blockchain Link Chain as well as a cryptocurrency called LINK.
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