Major Chat App Has a New Crypto Plan for its 80M Users, Aims at Libra

Japan Libra Payment
Last updated:
Author
Author
Tim Alper
About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Japan-based major chat app operator Line has updated the white paper for its Link cryptocurrency. And by the looks of things, the company is looking to posit its token as a competitor to Facebook’s forthcoming Libra project.

Source: line.me

The updated white paper underscores Line’s intentions to allow users to make payments in Link. Per a report from Coin Otaku writer Takahiro Iida, this will help Line differentiate itself from Libra, whose strength will be in enabling user-to-user remittances.

Indeed, Iida says Line will look to use Link as a form of payment for games and apps on its Line platform. Moreover, the writer says the company could integrate Link with its Line Pay (e-payment) business, and also let users trade securities using the token.

The company wrote,

“You can use Link to make payments or win benefits. You can also use it to secure resources or pay network usage fees.”

The company claims to have 80 million monthly active users – with the lion’s share of the market in Japan, as well as a large user base across South East Asia.

Line Pay is currently rolling out in Japan, where it plans to enable QR code-powered in-store payment at participating outlets. Earlier this year, the company announced it had teamed up with Visa for a deal that will see credit cards integrated with the Line app. Visa and Line have also agreed to collaborate on further blockchain initiatives.

The chat app has also partnered with JCB, one of Japan’s biggest credit card providers, as part of its Line Pay initiative.

The white paper’s authors claim that Line will award Link tokens to customers as a reward for using dapps on its Link Network blockchain platform, and will also reward node operators.

The company is still waiting on regulatory approval for Link in Japan, and has chosen to operate from Singapore.

Line is the brainchild of tech giant Naver, South Korea’s answer to Google.
___

Read more: Crypto-keen S Korean Tech Giants ‘Six Months ahead of Facebook’

More Articles

Press Releases
Solana Layer-2 Solaxy Hits $28M Presale Landmark, Unveils Latest Dev Progress
2025-03-27 19:08:31
Press Releases
Meme Coins Cross $56B Mark with 4 Days Left to Join the Sector’s First Index Presale: Meme Index
2025-03-27 18:41:43
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors