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Reuters
Reuters
Business

Japanese messaging app operator Line to launch cryptocurrency

The logo of Line Corp is seen at the company's headquarters in Tokyo, Japan, January 25, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Japan's Line Corp said on Friday it will launch a cryptocurrency in September, as the company tries to build up a wide range of businesses using its popular messaging app as a platform.

The company said the digital coin "LINK" will be given as rewards to users of its services and could be traded with other cryptocurrencies at its crypto exchange, BITBOX. The coin is not available for users in Japan and the United States for regulatory reasons, it said.

Line said LINK digital coins would be used as payments or rewards within its blockchain-based app services.

(Reporting by Taiga Uranaka; Editing by Stephen Coates)

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