Messaging Giant LINE Launches its Token LINK for its Users

September 23, 2020


The messaging giant which has almost 84 Million users in Japan, LINE, declared on Friday that it has begun its rewards program where it gives out newly launched token LINK to those that use their digital services. On September 19, CoinDesk Japan reported that the users utilizing the digital services will be rewarded with LINK by linking their accounts to its three mobile apps, including LINR Score for credit evaluation, LINE Pay for remittance and settlement, and LINE Securities for personal investment.

The reward program is important for LINE’s push to promote its blockchain activity. In 2018, the organization made an in-house lab to create decentralized applications (dapps) in light of its licensed LINE Blockchain. It launched its advanced resource wallet and an improvement stage for dapp engineers in August.

The program began on Sept. 18. Under the arrangement, 10,000 clients who have LINE family credit cards gave by LINE Pay will get 2,000-yen ($19.6) worth of LINK tokens, while LINE Securities clients will get up to 500-yen ($4.76) worth of tokens by opening an account and finishing a poll. LINE Securities was begun as a team with Nomura Holdings, one of the biggest stock businesses in Japan.

Clients can change over the tokens into fiat cash by the LINE’s crypto-resource exchanging administration BitMex, where they have to open an account to deal with such exchanges. However, the company plans to motivate its users to participate in the token economy in which more people will exchange or utilize the token LINK as a mode of payment and increase its utility.
Several other messaging application firms are also developing their own native tokens to leverage their huge customer bases. Telegram and Kik have also tried to launch token on a blockchain.

Image Courtesy : Pixabay

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