LVC Corporation, the crypto subsidiary of messaging giants Line, is on the cusp of launching its trading proprietary cryptocurrency link in Japan, around the month of April.
LVC is also in the process of developing a system to back Link’s start in Japan on the Bitmax platform, a local cryptocurrency exchange, the press release stated. Line’s website stated that it provides a lot of decentralized features to its users on its platform and the DApps.
Line Not Alone in Its Pursuit
The Line messaging giant has joined the list of other social applications like Kik, Telegram, Whatsapp and Facebook, who are eyeing to launch their own cryptocurrency. Due to more robust regulations on cryptocurrencies in Japan, Line had their progress halted as they waited to get a license from financial regulators in September 2019.
Both Kik and Telegram are currently involved in a tug of war with the United States Securities and Exchange Commissions (SEC) over their controversial sale of unregistered securities to the people of U.S. The SEC recently solidified its case against Telegram by giving an analogy that Telegram’s Gram tokens, given the lack of their intrinsic value, makes their worth less than that of a doughnut. Kik is also trying to stand its ground in the face of adversity and has appealed for a date, against the current charges against its Kin token. The company was charged by the SEC in June 2019 for conducting an unregistered security issuance with its $100 million initial coin offering (ICO).
Facebook’s Libra stablecoin has faced the United States Securities and Exchange Commissions’ wrath and pushback. Not just in the U.S., Libra is struggling to wiggle its way through in Australia and many other countries. However, even if Libra fails to make it, its voracious attempt to provide an alternative to traditional currencies has made people pay heed to digital currencies worldwide.