In line with an official ‘press release‘ published, renowned Japanese messaging app named ‘LINE’ has signed a MOU [memorandum of understanding] with a native monetary giant ‘Nomura Holdings’ to form a blockchain alliance.
Nomura, that offers investment, funding and related services to individual, institutional along with other government customers, [LINE and LVC] Corporation, that oversees messenger’s digital asset and blockchain business units, would sign a proper formal contract by the end of March this year.
The three partners are considering establishing a monetary alliance centered on blockchain. Additional details are expected to be declared nearer to the upcoming date, as per the press release.
LINE and Nomura have also formally partnered before. Earlier in 2018, they started a firm to ‘offer‘ securities brokerage services and investment advice, where Nomur owned 49% while [LINE] owned the remaining 51%. In line with the news web-site Finance Magnates, the firm has not been yet ‘launched‘.
As reported earlier, Japan’s major messenger team is actively involved in developing crypto products. In Jan. last year, the firm ‘declared‘ it’d launch its own crypto exchange and in-app commercialism space for its 200 Mln active monthly users.
Just last year, LINE formally ‘launched‘ its in-app currency, named LINK. They additionally declared that there would be a total of one billion LINK tokens, in which 20% — or 200 Mln tokens — would be kept as reserve. The tokens are often used as payment means for a variety of [LINE services].