Share this article
Japan's LINE Launches CBDC Development Platform: Report
LINE reportedly said it has several "major" Asian nations in discussions over using the CBDC platform.
Updated May 9, 2023, 3:12 a.m. Published Oct 20, 2020, 10:25 a.m.
Make us preferred on Google
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- 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
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Plus pour vous
Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
Ce qu'il:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
Top Stories
