Japan's LINE Launches CBDC Development Platform: Report

LINE Corporation, best known for its popular messaging app, is launching a blockchain platform allowing central banks to develop digital currencies, South Korean newspaper Chosun reported Monday.

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A LINE representative reportedly said, "We want to provide CBDC platform technology to several central banks interested in CBDC."
The platform would be aimed at helping central banks develop customized digital currencies backed by blockchain technology's advantages of stability and scalability, the report said.
The LINE representative said that "major" Asian nations are already in discussions with the firm, though the names were not disclosed.
In a similar move, Mastercard recently released a platform allowing central banks to test how proposed central bank digital currencies (CBDCs) would work in real life.
As CoinDesk reported, LINE launched a general blockchain development platform in August, alongside a wallet for managing digital assets.
The platform was said to allow developers to issue digital tokens, tokenize assets and run decentralized applications (known as dapps).
LINE is a Japan-based subsidiary of South Korean firm Navel that already offers a licensed cryptocurrency exchange and crypto lending service.

Also read: Japan’s Nomura Invests in Line’s LVC to Develop Blockchain Financial Services

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