Japan’s messaging app LINE to launch cryptocurrency

A woman walks past the logo of Line Corp at the company's headquarters in Tokyo, Japan June 2, 2016. REUTERS/Toru Hanai/File Photo

Japan’s Line Corp said on Friday it will launch a cryptocurrency in September, as the company tries to build up a wide range of businesses using its popular messaging app as a platform.

The company said the digital coin “LINK” will be given as rewards to users of its services and could be traded with other cryptocurrencies at its crypto exchange, BITBOX. The coin is not available for users in Japan and the United States for regulatory reasons, it said.

Line said LINK digital coins would be used as payments or rewards within its blockchain-based app services.

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