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Line Will Develop A Platform For CBDC

21 October 2020 16:36, UTC
Line Will Develop A Platform For CBDC
By Anna Martynova

Messenger Line and subsidiary Naver have announced their intention to launch a platform for CBDC. Most recently, the Central Bank of Japan joined other Central Banks in Asia to announce the launch of the Central Bank Digital Currency (CBDC) in 2021. A few weeks ago, Messenger Line launched a blockchain development platform designed for a decentralized application, as well as a Bitmax crypto wallet.

Messenger Line not only studied the benefits of blockchain based on the development of the CBDC platform and digital asset wallet, but also developed its own currency called "Link". The asset has gained popularity among crypto enthusiasts around the world and currently has over 85 mln users.

Line intends to support the development of the digital currency by providing a blockchain-based platform designed to support various CBDC programs. The company has hinted that they have engaged several central banks in Asia to review their blockchain platform with the aim of propelling the central bank's digital currency into the financial world. So far Line has not revealed the countries with which further development is being discussed.

Image courtesy of Phoneworld



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