Naver Line Lists 'Link' on Japanese Cryptocurrency Exchange

[Asia Economy Reporter Jin-gyu Lee] Naver's Japanese subsidiary LINE announced on the 10th that it has listed its self-developed cryptocurrency 'LINK' on the Japanese virtual currency exchange Bitmax.

Bitmax, operated by LVC Corporation (LVC), is LINE's virtual currency exchange launched in September last year. In Japan, 84 million users access the service through the LINE messenger. With this LINK listing, users can now trade six cryptocurrencies on Bitmax: LINK, Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.

LINE introduced the concept of the 'LINE Token Economy' to build a 'LINE Blockchain Ecosystem,' a symbiotic relationship between users and service providers, based on its proprietary blockchain network, 'LINE Blockchain.' Users join decentralized applications (DApps) built on blockchain technology, and LINK is provided as a reward proportional to users' activity and contribution. LINE plans to utilize LINK in various services, including user reward-based content on LINE.