A Japanese messaging company is working on a platform for developing central bank digital currencies (CBDCs), Cointelegraph reports, citing South Korean news agency Chosun Ilbo.
Sources told Chosun Ilbo that Line, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, aims to support the development of a so-called “customized CBDC.”
The messaging company is discussing the application of its blockchain-based CBDC platform with several central banks in major Asian countries, according to Chosun Ilbo. However, Line chiefs would not specify which countries are involved.
A Line spokesperson told Cointelegraph that the firm aims to “provide a blockchain platform that is fit for CBDCs based on Line Blockchain.”
Line has been actively exploring the crypto and blockchain industry. In August 2020, it launched a blockchain development platform for decentralized applications and services and a digital asset wallet named Bitmax. Earlier this year, Line’s crypto subsidiary LVC Corporation launched trading of its proprietary cryptocurrency Link (LN) in Japan, Cointelegraph reports.