Line Builds A Platform For Developing CBDCs
Line Builds A Platform For Developing CBDCs
October 23, 2020
Line Builds A Platform For Developing CBDCs
Line Builds A Platform For Developing CBDCs
October 23, 2020

Line, a Tokyo-based messaging giant, is building a platform for developing central bank digital currencies (CBDCs).

It has been reported by the South Korean news agency the Chosun Ilbo that Line aims to support the development of a so-called “customized CBDC.”

However, the messaging company is discussing the application of its blockchain-based CBDC platform with several central banks in major Asian countries.

Line executives said that they cannot disclose the exact countries that are considering the platform’s application.

Likewise, a Line spokesperson said:

“The firm aims to provide a blockchain platform that is fit for CBDCs based on Line Blockchain.”

The report said that Line has been actively exploring the crypto and blockchain industry. In August 2020, it launched a blockchain development platform for decentralized applications and services and a digital asset wallet named Bitmax.

Earlier this year, Line’s crypto subsidiary LVC Corporation launched trading of its proprietary cryptocurrency Link (LN) in Japan.

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Thus, a number of Asian countries are making plans for their own CBDCs.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.