Japanese messaging app provider LINE Corporation announced that its newly-developed LINK (LN) token is now tradeable on its native BITBOX cryptocurrency exchange in a press release Tuesday, October 16.
LINE, which launched BITBOX in July, will offer trading against three cryptocurrency assets – Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) – out of a total of thirty currently available on the exchange. BITBOX does not offer fiat trading.
In future, LN holders will be able to spend their holdings in LINE’s decentralized application (DApp) system, also currently under development, the press release notes.
“We’re very pleased that users are now able to trade LN on BITBOX, which is a major step forward in our plans for creating a token economy,” LINE CEO Takeshi Idezawa commented in the release, continuing:
“We think it is important to promote co-creation and mutual growth with LINK, while ensuring BITBOX continues to develop as a user-friendly platform that adds value to those who use it and contribute to our services.”
As Cointelegraph reported in August, LINE’s Hong Kong-based subsidiary Unblock launched a $10 million “corporate token fund” with the aim of “boosting the development and adoption of cryptocurrencies and blockchain technology.”