Japan’s LINE Launches CBDC Development Platform: Report
LINE reportedly said it has several "major" Asian nations in discussions over using the CBDC platform.
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Japan is getting more serious about the digital yen. Japan needs to adapt its laws to issue a central bank digital currency, according to a local financial official.Kozo Yamamoto, head of the Liberal Democratic Party’s council on financial affairs and a former official at the Ministry of Finance, believes that Japan must revise a law stipulating the Bank of Japan’s (BoJ) mandate and responsibilities regarding the development of a CBDC.According to an Oct. 12 Reuters report, Yamamoto said that potential amendments to the BoJ law would be a good opportunity to consider other changes like....
The platform would aid central banks in Asia with developing a central bank digital currency. LINE, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency The Chosun Ilbo reported on Oct. 19.Sources familiar with the matter reportedly told The Chosun that LINE 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,....
Japan’s top social network and messaging app, LINE, has launched a marketplace for non-fungible tokens (NFTs). The new service allows 90 million LINE users to send and exchange NFTs with their friends. ‘LINE NFT’ Marketplace Launched LVC Corp., the operator of LINE’s crypto asset and blockchain businesses, announced Wednesday that it has launched LINE NFT, a non-fungible token marketplace available only in Japan. LINE described itself as “the fastest-growing mobile messenger app in the world.” It offers free messages, voice calls, and video calls.....
According to a recent report by CoinPost, MUTB, a subsidiary of Mitsubishi UFJ Financial Group, one of Japan’s largest financial institutions, in partnership with Binance Japan and Progmat, has announced the start of joint consideration for the development of a new stablecoin. Leveraging the Progmat Coin platform, compliant with Japanese regulations, the collaborative effort aims […]
The Club For Growth published a report exploring the shortcomings of a CBDC while detailing how the technology could fail in providing purported benefits.