Japanese messaging app LINE to offer native token payments trial

In a limited trial, Japanese messaging company LINE will soon be offering its users the option to pay with the app’s native token at select online merchants.

During a recent announcement, the LINE Corporation said that from March 16, users would be able to pay with native LINK token (LN) at any of LINE Pay’s online retailers. The trial phase, which will last through December 26, will be used to test real-world use cases for the tokens as well as expand the number of payment methods available to consumers.

According to Statista, there were 86 million monthly active LINE users in the third quarter of 2020, accounting for more than 68% of the nation’s 126 million population.

LINE aims to add more crypto tokens

LINE Pay added that it is also considering adding more crypto tokens such as Bitcoin (BTC) and Ether (ETH) to its payment options in the future, along with boosting its partnerships with blockchain-friendly companies. 

The LN coin was launched in August 2018 and is currently valued at $142.78, up by around 22% in the last seven days. Following an agreement in August 2020, the token was made available for trading on the cryptocurrency exchange platform Bitmax. 

In 2019, LINE launched its crypto exchange after getting regulatory approval. LINE Tech Plus, a subsidiary of LINE Corporation and LINE’s global crypto asset and blockchain-related businesses manager, has also launched a number of projects aimed at promoting the shift to a cashless society.

In November last year, as TheCoinRise reported, a consortium of 70 Japanese companies was planning to test and release Yen-based cryptocurrency this year. The Bank of Japan is currently in the research phase of developing CBDC, with initial trials expected in March 2022.

Japan has started tightening its regulatory framework around the crypto industry and recently said that it will follow the United States for stricter regulations on stablecoins.