FINSCHIA

<p>LINE Xenesis, a blockchain developer of Tokyo-based messaging app giant LINE Corporation, <a href="https://linecorp.com/ja/pr/news/ja/2023/4633" rel="noopener noreferrer nofollow">has signed</a> a memorandum of understanding (MOU) with Singapore-based cryptocurrency exchange Crypto.com to explore new global business opportunities in the blockchain industry.</p><p>With the establishment of LINE Blockchain Lab in April 2018, LINE Corporation has conducted research and development on blockchain-based decentralized applications (dApps), peer-to-peer networking systems, and cryptographic techniques. Thanks to this endeavor, LINE not only developed the Finschia blockchain and its native token FNSA, but also launched crypto exchange LINE Bitmax and non-fungible token marketplace LINE NFT.</p><h2 id="header-0">Synergistic goals</h2><p>Through this partnership, the two entities will bring together their respective expertise to advance and innovate crypto-related business solutions in Asia and beyond. They will collaborate to increase the liquidity of LINE Bitmax, strengthen crypto payment functions, and promote NFT initiatives.</p><p>Founded in 2016, Crypto.com <a href="https://medium.com/&#64;coinness.gl/crypto-com-plans-to-launch-its-services-in-south-korea-this-year-99c01a4252b" rel="noopener noreferrer nofollow">has been expanding</a> its services worldwide. In a recent interview, Patrick Yoon, General Manager of Crypto.com Korea, shared the company’s plan to launch its services in South Korea this year. Thus far, Crypto.com has achieved virtual asset service provider registration from the Bank of Spain and secured a major payment institution (MPI) license from the Monetary Authority of Singapore. Meanwhile, despite global progress, the company ceased its institutional offering in the United States last month due to insufficient demand.</p><h2 id="header-1">Asia and beyond</h2><p>Commenting on this agreement, LINE Xenesis CEO Lim Inkyu <a href="https://crypto.com/company-news/crypto-com-partners-with-line-xenesis-to-drive-crypto-adoption-in-apac" rel="noopener noreferrer nofollow">said</a>, “LINE Xenesis is exploring various ways to collaborate with the world’s leading companies in the virtual asset industry. We are excited to see the synergies created by our partnership with Crypto.com, which has more than 80 million enthusiastic users worldwide, with LINE Xenesis’ blockchain business in Japan. Starting with this collaboration in the Japanese market, we hope to work towards new business opportunities globally based on the technology and knowledge of our two companies.”</p><p>Crypto.com CEO Eric Anziani echoed this sentiment, saying, “We are excited to partner with such an established and innovative brand in the APAC market and a leader in blockchain technology development in Japan. Enabling real-world utility is critical to our mission of mainstreaming crypto. Through our collaboration with LINE Xenesis, we will facilitate this utility by leveraging our respective expertise with a highly tech savvy base throughout the APAC region.”</p>

LINE Xenesis and Crypto.com Unite Efforts to Explore Global Blockchain Business Opportunities

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