Japan: Messaging Giant LINE Launches Trading of Its LINK Token on Native Exchange

Japanese messaging app provider LINE Corporation announced that its newly-developed LINK token is now tradeable on its native BITBOX cryptocurrency exchange in a press release Tuesday, October 16.

LINE, which launched BITBOX in July, will offer trading against three cryptocurrency assets - Bitcoin, Ethereum and Tether - out of a total of thirty currently available on the exchange.

In future, LN holders will be able to spend their holdings in LINE's decentralized application system, also currently under development, the press release notes.

"We think it is important to promote co-creation and mutual growth with LINK, while ensuring BITBOX continues to develop as a user-friendly platform that adds value to those who use it and contribute to our services."

Along with promotional activities such as an airdrop of TRON tokens for LN holders, the move marks the latest step in the company's continued efforts to embrace the crypto economy.

As Cointelegraph reported in August, LINE's Hong Kong-based subsidiary Unblock launched a $10 million "Corporate token fund" with the aim of "Boosting the development and adoption of cryptocurrencies and blockchain technology."

Separately, internet conglomerate GMO Internet Co. Ltd revealed plans earlier this month to launch a cryptocurrency stablecoin pegged to the Japanese yen.