Get Ready! LINE Will Trial Using Native Token In March

LINE will trial use native tokens in March. (Coindesk)

JAKARTA – LINE plans to test the use of native tokens in the application in March. Application users can use the token to make payments at certain online merchants in a limited trial that will be implemented.

LINE's parent company, LINE Corporation, announced on Tuesday, February 8 that users will have the option to pay with LINK tokens (LN) at LINE Pay online merchants from March 16 to December 26. It is intended to test the use of tokens as well as increase convenience and increase the number of payment options for its users.

LINE Tech Plus, a subsidiary of LINE Corporation and operator of LINE's global crypto asset and blockchain-related business, has also undertaken various initiatives aimed at leveraging LINK to promote the transition to a cashless society.

Additionally, LINE Pay said that it is considering adding other cryptocurrencies such as Bitcoin and Ethereum to its payment options. It aims to strengthen partnerships with blockchain companies.

For information, the LN token was launched in 2018 and is currently worth 142.78 US dollars or IDR 2.05 million, an increase of 22 percent in the last seven days. The LN token itself has been available on the Bitmax crypto exchange since 2020. By the end of 2021, there have been 30 crypto exchange businesses operating in the Rising Sun Country that have been approved by the country's Financial Services Agency.

A consortium of financial institutions based in Japan also made an announcement in November last year that it planned to pilot and launch a yen-based digital currency by 2022. The Bank of Japan, the country's central bank, said the digital currency was still in the research and development stages. is planned to be tested for the first time in March this year.