LINE establishes a Korea-based blockchain affiliate

Japanese chat giant through its mobile platform subsidiary LINE Plus established its blockchain affiliate Unblock in South Korea on April 2
03 April 2018   396

LINE Plus is running a blockchain affiliate in South korea as of April 2. Unblock will be responsible for developing an integration mechanism of blockchain technologies into LINE cross-market system. LINE is a chat giant in Japan with over 214 mln users.

The establishment of Unblock signals we are ready to invest in order to play a leading role in the blockchain industry. We are planning to recruit people with expertise in blockchain technologies, such as token economy design. We will speed up investment and strengthen research on the virtual currency market.

 

LINE Official

In January, LINE Financial Corp. was established to incorporate crypto exchange, insurance and loan platform into LINE portfolio of business departments. LINE is owned by a Korean Internet search giant Naver and was founded to fight off its competitor in Japan - another Korean chat giant Kakao.

The company [Unblock] will conduct blockchain education and market research and help South Korean virtual currencies expand to Japan and Southeast Asia. Unblock will also possibly issue its own virtual currency and act as an exchange at a later date.

 

LINE Plus Official

Japan and South Korea are two of the most popular markets for virtual currency and blockchain.

Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions
18 July 2018   9

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.
 

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.