Japan's Line Pay to Add Native Crypto Token LINK as Payment Option at Specific Digital Merchants
Japan’s new payment option at some selected digital merchants as a crypto native token lINK.
The name of such payment accepting the crypto nature is LINK and it has been added by Japan’s Line Pay.
Line Pay is also aimed to provide the platform to accept Bitcoin and Ether as payment options In the future.
Highlights
- Lome will conduct the testing of the use cases of its native token.
- It was given a trial period for up to 9 months and has been locked.
- At present 5,975,799 LN coins are in circulation.
Also, Read CoinSwitch Adds 'Recurring Buy Paln' for Crypto Assets: Everything You Need to Know
For the first time in Japan, the cryptocurrency has started using by Japan’s company Line Corporation and it has decided to try out the real use cases of its native crypto token called LINK (LN). The company that will have the messaging and digital payment service now will allow its users to pay in LINK tokens at some specific merchants. The test over the option and trial related to this will be going on for 9 months from March 16 to December 26, 2022. The Japan-based platform Line is planning to build its platform capable so it can offer the service of accepting payments from options like Bitcoin and Ether in the future.
On Tuesday, February 8, the company has declare a statement having an official nature that can be read as “During the trial run, users will be able to use LINK at Line Pay online Merchants just like line points without any commission fees. By connecting LINK to Line as a payment solution, line pay aims to expand users’ payment option, increase convenience, and grow the real like usages of link,” the statement has been given by Tokyo Headquarter Company.
The LINK (LN) which is a crypto token was launched in 2018 and as per the report of CoinMarketCap it is presently trading at $145 (INR 10,850), the circulating supply of the company of LINK is 5,975,799 LN coins.
Crypto-related activity and the use of cryptocurrency is the legal property of any individual and even the government also has enacted an act called the Payment Service Act (PSA) that is making the use of Cryptocurrency in Japan is legal. The use of Bitcoin and Ether is the current legal property of its citizens.
As per the report of the Japan Virtual and Crypto Assets Exchange Association (JVCEA)told that the highest deposit of the virtual currency was in March 2021 which was worth $13 billion which was a seven-time high as compared to the last year 2020.
