Line-Yahoo Merger in Japan to Potentially Boost Crypto Landscape

Asia Blockchain Review
November 24, 2019

Stakeholders in the Japanese crypto landscape are closely monitoring a potential merger between Yahoo Japan and Line after Softbank, the financial giant that owns more than 48% of Yahoo Japan, revealed it was considering a merger with one of the biggest chat applications in the region. 

The Rise of a Powerful Crypto Player 

According to Cryptonews, the merger between these two companies, both with interests in blockchain technology and cryptocurrency, could potentially result in the rise of a powerful crypto player in Asia.

In Japan, Line has just introduced its Bitmax cryptocurrency exchange while also driving blockchain projects and running crypto exchanges in several countries in Asia. Line has disclosed there are 81 million monthly active users on its chat application, which has a Bitmax interface.

On the other hand, Yahoo Japan is a huge backer of TaoTao, a competitor to Bitmax, which was recently launched in May 2019.

At this stage, neither Line nor Yahoo Japan has mentioned future plans for its cryptocurrency operations after the merger. Still, crypto enthusiasts are closely keeping an eye on the two companies as Japanese Nikkei news agency revealed that both firms are now in the “final stages” of the negotiating process.

Driving Financial Solutions with E-Pay

Both Yahoo Japan and Line have already introduced electronic payment services for its customers. In Japan, Line Pay and Yahoo Japan’s PayPay are widely available nationwide, with PayPay having also been integrated with the MoneyTap app developed by Ripple.

Additionally, Line has partnered with Visa to develop a blockchain-enabled overseas payments solutions as well as “alternative currency” transaction solutions.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Aircraft Parts Maker Moog Inc Adopts Blockchain for Digital Models
Aircraft parts maker Moog Inc. has been running a trial that combines blockchain technology with 3D ...

December 6, 2019

BNY Mellon is Newest Member of Marco Polo Blockchain Network
The Bank of New York Mellon (BNY Mellon) has joined the Marco Polo blockchain trade finance network ...

December 6, 2019

Central Bank of France: Blockchain Can Answer Market Demands
The first deputy governor of the Central Bank of France says that blockchain can be implemented to c...

December 5, 2019

Red Cross Developing Blockchain-Based Currency for Aid Distribution
Three national units of the Red Cross plan to use blockchain-based currencies instead of cash and vo...

December 5, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us