Japanese Messaging platform, LINE, begins plan to try out the use of its crypto token LINK (LN) for online payments. This trial aims to increase the usage of the crypto asset.
LINE’S LINK currently equals $149.24; and holds a market capacity of $891,820,662, according to binbits.
Schedule for the trial
The trial will run from March till December 2022 on the LINE blockchain network. According to the announcement on LINE’S official website, the test will run from March 16 to December 26. In this period, LINK (LN) will be used as payment for some merchants on the company’s payment platform – LINE Pay. However, this testing will only run in Japan during the stipulated time.
Furthermore, this plan will be carried out by LINE Pay, the company’s digital payment service. The aim is to gain more popularity and usage of the crypto asset by allowing its use for payments by selected merchants on the company’s messaging platform.
Plans are already in place for LINE Pay to integrate the company’s traditional token LINK (LN) into its payment platform. Also, it is worth noting that LINK stands as (LN) as it is different from LINK (LINK) which belongs to Chainlink.
Why the trial to use LINK(LN) for online payments?
This decision is based on the company’s aim to increase users, payment options, user comfort, and also to boost the real-life usage of LINK (LN).
Through this testing, LINE hopes to keep expanding the practical and real-life usage of LINK. On LINE BITMEX, the company’s crypto exchange platform; users can now use LINK to pay transaction fees. The company is also engaging in several campaigns and promotions to help achieve its aims.
As a way of contributing to the development of a cashless society, LINE Pay also plans to add Bitcoin and Ethereum as payment options. This is with the hope of improving partnerships within the blockchain industry.
Who is LINE?
LINK’S mother company, LINE, is the most popular messaging platform in Japan, with about 86 million active users, according to statists.
However, the company which started during the Great East Japan Earthquake of 2011, has since metamorphosed from a communication platform, to include fintech and even crypto exchange in their portfolio.
Moreso, LINE launched LINK (LN) in August 2018 making its debut on BITBOX. The original design of this token is to serve as a reward who users. And it is only for users contributing to the growth of the company’s services on their various platforms.