Visa & LINE Pay to Create DLT-Based Fintech Services

It should be noted that neither the developers nor the payment giant declare it is 100% about cryptocurrencies, "alternative currrencies" phrase is used
07 June 2019   534

The payment giant Visa, in cooperation with the Japanese application developer LINE Pay, will provide customers with access to new fintech services on the blockchain. It is reported by CoinDesk.

Thus, within the framework of cooperation, products will be issued that will allow making B2B- and cross-border payments, as well as carrying out “alternative currencies transactions”.

Thanks to the cooperation, LINE Pay users will also have the opportunity to work with Visa digital cards in mobile wallets.

With Visa’s global network and infrastructure, LINE Pay users will be able to enjoy the advantages of that innovative, worldwide network.

Youngsu Ko

CEO, LINE Pay and LINE Fintech Company.

It should be noted that neither the developers nor the payment giant declare it is about cryptocurrencies. Nevertheless, last year the parent company of LINE Pay opened a unit focused on working with cryptocurrency services.

In particular, the Line messenger launched its own public blockchain Link Chain and a cryptocurrency called Link.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.