A mobile messaging app with over 84 million users in Japan, LINE, announced the launch of a cryptocurrency rewards program.
Users of LINE’s digital services will now be able to receive rewards in LINK, the platform’s native token (which has no relation to Chainlink, although they share a name). The company will grant remuneration in token to users who connect their accounts to three LINE applications: LINE Pay for remittances and settlement, LINE Securities for personal investment, and LINE Score for credit evaluation.
LINE has been in the world of Blockchain technology for several years. In 2018, the company began developing its proprietary LINE blockchain and issued the LINK (LN) token, which users can trade with various crypto assets such as Bitcoin.
LINE’s new bounty program is an effort to boost the company’s crypto services.
According to the information, the program began on September 18 and contemplates that 10,000 users holding LINE family credit cards, issued by LINE Pay, receive tokens worth USD 20 in local currency.
For their part, LINE Securities users will get up to 500 yen (about $ 5) in tokens for opening an account and completing a questionnaire. LINE Securities was started in collaboration with Nomura Holdings, one of the largest stock brokerage firms in Japan.
Users will then also be able to exchange the cryptocurrency for the fiat currency on LINE’s crypto exchange service Bitmax, based in Japan. The company’s goal is to encourage users to participate in an economy with the LINK token so that more people trade and use the token to increase its utility.
The initiative comes a few weeks after LINE launched its digital asset wallet, Bitmax Wallet, as well as a development platform for decentralized application developers (Dapps) called LINE Blockchain Developers.
In recent years, various messaging app companies have expressed plans to develop their own tokens to take advantage of their large customer bases. While platforms such as Kik and Telegram have faced lawsuits from the U.S. Securities and Exchange Commission for their collection processes, the Facebook giant’s project appears to be stalled in the face of significant regulatory challenges.
The Global Messenger.
LINE is the fastest growing mobile messenger app in the world. This app is quick and creates stable bonds between friends and significant relatives, getting them the closer they could ever be, messaging is for free, as well as voice calls and video calls anytime the user wants to. LINE is available on smartphones, including iPhones and Android devices, and also PCs and Macs.
LINE family apps also include a webcomic app, a security app, and many more that will bring fun daily routines. LINE is also ideal producing wondrous decor for phones, a helpful app to have on the phone for entertaining, and as a network to get closer to family, friends, and even teams at works.
By: Jenson Nuñez.
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