📱 Japanese customers can’t use the new cryptocurrency on LINE's messaging app

Japanese messaging app company LINE Corporation announced on Friday the launch of its own blockchain network (LINK chain) and cryptocurrency (LINK). Unfortunately, licensing requirements will prevent LINE's customers in Japan and the US from actually using its new currency, at least initially. Since 75 million of LINE's monthly active users are located in Japan, this could undermine the benefits of its large customer base. LINE plans to exclusively list LINK tokens on its cryptocurrency exchange, BITBOX, which opened in Singapore in July. However, the exchange, which only facilitates crypto-to-crypto trade, still requires approval from Japan’s financial regulator, the Financial Services Agency.