Japanese Messenger Line, Nomura Holdings Form Blockchain Alliance

Published at: Oct. 4, 2019

Japanese messaging app Line has entered into a final agreement with financial giant Nomura Holdings to form a blockchain alliance.

Focus on blockchain technology

On Oct. 4, Line, together with Line Group company LVC Corporation and Nomura Holdings, announced that the three companies have signed the final capital alliance agreement, which is based on the collective intent to explore business opportunities in the blockchain industry.

Cointelegraph previously reported that the three partners had signed a memorandum of understanding at the end of January 2019, with the intention to sign a formal contract by the end of March. 

According to the press release, Nomura Holdings completed its investment into LVC, which will further establish a financial alliance with a focus on blockchain technology.

This is not the first time that Line and Nomura have entered into a partnership. Earlier in 2018, they set up a firm to provide securities brokerage services and investment advice, where Nomura would own 49 percent and Line would control the remaining 51 percent.

Line currently has 81 million monthly active users in Japan.

Nomura Holdings invests in Coinbase-backed token

Cointelegraph reported on Sept. 24 that Nomura Holdings, together with two other major commercial banks, Santander’s VC arm Santander InnoVentures, and MUFG Innovation Partners, invested $14 million in Securitize, a Coinbase-backed token issuance protocol.

Tags
Related Posts
Yahoo Japan works with Line to launch NFT trading
Major Japanese internet company Yahoo Japan has partnered with messaging giant Line to launch nonfungible token (NFT) trading. Line officially announced on Tuesday that its cryptocurrency-focused subsidiary, LVC Corporation, would collaborate with Yahoo Japan to enable the secondary trading of NFTs issued on Line’s proprietary blockchain. As part of the partnership, Yahoo! Japan would place Line blockchain-based NFTs on its online auction service Yahoo! Auctions, a service set up by the company back in 1998 to compete with the e-commerce giant eBay. To enable NFT trading on the platform, the two partners would integrate Yahoo Auctions with the Line Bitmax …
Blockchain / July 27, 2021
LINE expands blockchain and crypto product portfolio with two new additions
Japanese messaging company LINE has launched a blockchain development platform called LINE Blockchain Developers for decentralized applications and services. The company has also launched a digital asset wallet named BITMAX that will allow users to centrally manage all the fungible and non-fungible digital assets they obtain from various blockchain services on the LINE Blockchain. LINE’s blockchain and crypto subsidiary LVC Corporation and Line Tech Plus announced the launch of the two products to LINE’s blockchain and crypto portfolio on Aug. 26. Through the web-based blockchain development platform, the company aims to help developers cut costs and complexities of developing and …
Blockchain / Aug. 27, 2020
Japan’s Line Reportedly Close to Obtaining FSA License for Japanese Crypto Exchange
LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant Line, is allegedly close to obtaining a crypto exchange operating license from Japan’s financial regulator. The news was reported by Cointelegraph Japan on June 20. According to the report, Japan’s Financial Services Agency (FSA) could issue the company with an exchange license as early as this month. The trading service, to be dubbed BitMax, would enable Line’s 80 million users in Japan to buy and sell multiple major cryptocurrencies, as well as Line’s native token Link, CT Japan notes. Per a press release recently shared with Cointelegraph, Line …
Blockchain / June 20, 2019
Five More Exchanges Join Japan’s Self-Regulatory Crypto Exchange Association
Five more cryptocurrency exchanges have joined the Japan Virtual Currency Exchange Association (JVCEA), according to an official announcement on Jan. 4 from the JVCEA. The JVCEA is a self-regulatory body formed in April by 16 registered crypto exchanges that aims to create industry-wide investor safety standards. In October, Japan’s financial regulator formally granted self-regulatory status to the JVCEA to oversee the crypto sector. The body, made in part as a response to the January 2018 $534 million hack of crypto exchange Coincheck, had released a set of regulatory guidelines in June, including a ban on insider trading and prohibition against …
Blockchain / Jan. 5, 2019
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 (LN) 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 (BTC), Ethereum (ETH) and Tether (USDT) – out of a total of thirty currently available on the exchange. BITBOX does not offer fiat trading. In future, LN holders will be able to spend their holdings in LINE’s decentralized application (DApp) system, also currently under development, the press release notes. “We're very pleased that users are now …
Blockchain / Oct. 16, 2018