Tokyo-based internet and communications company LINE yesterday launched a digital wallet and a blockchain development platform for its users
LINE is best known for its free messaging application that supports smartphones, tablets and computers. Over the years the company has expanded into other digital services, including Line TV, digital comic distribution, Line Manga and Line Webtoon, as well as its news streaming service, Line Today.
The company’s latest offering is the newly introduced wallet, BITMAX, which is designed to help users manage digital assets. Alongside BITMAX, LINE launched a blockchain platform that aims to simplify token issuance for developers, support decentralized applications and enable the tokenization of digital assets.
LINE’s messaging service has more than 84 million users, and the company intends to leverage this existing user base to accelerate the growth of token-based economies and encourage wider adoption of decentralized applications built on its blockchain infrastructure.
Other developments
LINE previously issued its own token, LINK, which users could use to exchange for other cryptocurrencies such as Bitcoin back in 2018. About a year later, the company began offering trading services through its BitBox crypto exchange; BitBox later secured approval for a cryptocurrency business license.
LINE is not the only internet and telecommunications company to explore tokens and blockchain platforms. Several technology firms with messaging apps have moved into the blockchain and crypto space in recent years.
For example, the Canadian messaging app Kik, developed by Kik Interactive, launched an ERC-20 token called Kin in 2017. Kin subsequently faced legal challenges in the United States and struggled to gain traction; reports indicated a steep decline in value in 2019.
Telegram, a cloud-based messaging and video telephony service, experienced legal difficulties with the U.S. Securities and Exchange Commission while developing its Gram token. Facebook’s cryptocurrency initiative, originally known as the Calibra project and later rebranded, also encountered regulatory scrutiny and challenges from financial authorities.
These examples illustrate the complex regulatory environment blockchain projects can face, especially when backed by large tech and messaging platforms. LINE’s move into wallets and development tools underscores growing interest from established internet companies in creating secure, user-friendly paths to digital asset management and decentralized application development.
By combining a familiar user experience with developer-focused blockchain tools, LINE aims to foster a practical ecosystem where everyday users can access digital assets while developers can build and deploy tokenized services more easily. The success of such initiatives will depend on regulatory compliance, user trust and the practical utility of the tokens and applications that emerge on the platform.