According to insiders, LINE is reportedly exploring the integration of electronic cryptocurrencies into its payment services, such as LINE Pay, in an effort to boost user engagement and keep users within its ecosystem. This move could help the company retain its massive user base and encourage continuous usage across its platforms.
With a market cap of around 1.2 trillion yen ($10.6 billion) and over 168 million monthly active users, LINE has become a major player in Southeast Asia and Japan. Originally known for its cute stickers and messaging features, the company has expanded into various sectors, including job search, video streaming, and food delivery. Advertising has also become a key revenue stream in recent years.
The rise of blockchain and digital currencies like Bitcoin has captured global attention, with companies from tech giants to beverage brands jumping on the bandwagon. From Seagate to Long Island Iced Tea, many have announced ventures into crypto or blockchain, leading to sharp stock increases.
In the realm of real-time communication, Canadian startup Kik Interactive raised $100 million through an initial coin offering (ICO) in 2017, signaling a growing interest in blockchain-based services. Meanwhile, Facebook’s CEO Mark Zuckerberg hinted at potential future integration of cryptocurrency or blockchain technology into the platform.
Now, LINE appears to be following this trend by aiming to deepen its e-money offerings within the app, possibly to compete more directly with social media giants like Facebook and Snapchat. There have been rumors of talks with Upbit, a South Korean crypto exchange, though these have been officially denied.
While blockchain and cryptocurrency continue to generate excitement, some analysts warn that the market may be overheated, with concerns about a potential bubble forming. Companies that quickly pivot to crypto-related ventures often see short-term gains, but long-term sustainability remains uncertain.
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