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.
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.