Line, Nomura Tie Up in Blockchain Biz

Economy

Tokyo, Jan. 31 (Jiji Press)--Line Corp. <3938> and Nomura Holdings Inc. <8604> said Wednesday that they have teamed up to develop new financial services using blockchain, a key technology for cryptocurrency trading.

The tie-up is designed to combine the online security technology of Line, a Japanese free messaging app provider, with the financial business know-how of Nomura, a brokerage house.

Last year, Line launched a cryptocurrency exchange business overseas. In Japan, it has filed for regulatory approval for registration as a cryptocurrency exchange operator.

Nomura has been testing blockchain technology to boost the efficiency of its over-the-counter financial derivatives trading.

In a related move, Nomura plans to acquire a stake in LVC Corp., Line's cryptocurrency arm.

[Copyright The Jiji Press, Ltd.]

Jiji Press