Line’s New Crypto Not Yet Accessible To Their Customers

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The Japanese messaging giant Line on Friday announced the launch of its own blockchain network (Link chain) and cryptocurrency (Link).

The company announced that the LINK token will be traded exclusively on BitBox, which is also owned by LINE Corporation. And it will be available to Line’s huge user base of more than 200 million people.

Unfortunately, the services can not be accessed yet due to pending approval of BitBox’s license. For now, their 200 million users can’t use them for paying online content, games or online shopping as it should have intended for.

BitBox is still waiting for the permission from Japan’s Financial Service Agency (FSA) to operate. Due to the major compromise experienced by one of the renowned exchanges in the country, the agency is tightening up its approval standards for what the commissioner said as “growing under appropriate regulation”.

While Line waits for its BitBox to be approved in Japan, its Link Points will function as a stand-in for the Link tokens. Users can eventually exchange the points for tokens after Line gets official regulatory authorization.

With BitBox’s licensure pending, it’s unclear whether the exchange has the go-ahead in Line’s other key markets—Taiwan, Thailand, and Indonesia.

Read More: https://news.bitzamp.com/lines-new-crypto-not-yet-accessible-to-their-customers/