- Japan’s messaging giant, LINE, recently announced two new additions to its blockchain ecosystem.
- One of the new products is a global blockchain development platform, LINE Blockchain Development.
- The other is a crypto wallet called BITMAX, which will only service users located in Japan.
The Japan-based messaging firm, LINE, has recently decided to expand its blockchain offering. The company launched its blockchain development platform, LINE Blockchain Developers, for the purpose of creating and offering dApps and various services.
However, the firm then also added a crypto wallet BITMAX, for both, fungible and non-fungible cryptos.
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The new announcement that revealed the two products came out only recently, August 26th. It stated that the new products to LINE blockchain were brought by the company’s crypto and blockchain subsidiary LVC Corporation and Line Tech Plus.
The idea behind the new products
The company’s aim is to use the new development platform to help developers reduce the complexity and cost of creating dApps and digital assets. Not only that, but it will also bring similar benefits for data monetization.
As for the wallet, it will be tied to users IDs on LINE. As such, it will allow users to send and receive coins with other LINE contacts with ease and greater speed.
Another benefit is that developers will have access to LINE’s massive userbase, currently numbering 84 million. This will provide them with a large number of people who will be directly exposed to apps and services of LINE blockchain.
The platform itself will be available in Japanese, but also English, and it will provide access for users around the world. However, the crypto wallet BITMAX will only service users in Japan. As such, it will also only be in the Japanese language.
LINE delves deeper into the blockchain space
The new move represents the continuation of LINE’s efforts to provide support for the crypto and blockchain industries — an effort that originally began in 2018 when it established its blockchain group. Since then, it received approval from Japan’s regulators and was able to launch its own crypto exchange, Bitmax.
It also has a US-based exchange, BitFront, which was originally launched in Singapore under the name BitBox but was then moved across the Pacific.