LINE Corporation <3938>, which operates the Japan’s largest messaging app service LINE, announced that it concluded a final capital alliance agreement alongside the LINE Group company LVC Corporation with Japan’s top domestic securities firm Nomura Holdings In. for the blockchain field with a focus on finance on September 24, 2019.
The three companies announced in January this year the conclusion of a basic business agreement in the finance business with a focus on blockchains, and this agreement became the basis for LVC Corporation to undertake capital by way of a third-party allotment to Nomura Holdings through a capital partnership.
In this recent announcement, the company explained that “the three parties’ decision to enter into the Agreement is based on their collective intent to leverage LINE’s large user base and the LINE app’s secure and convenient UI/UX, and the Nomura Group’s wealth of financial business knowledge to collaborate in blockchain-based business opportunities.”
In accordance with the partnership, Nomura Holdings completed its investment into LVC Corporation on October 4. In this long-term partnership, the three stakeholders will work together to build a new financial service using blockchain technology.
The impact of this business partnership on LINE, LVC, and Nomura Holdings’ consolidated earnings has yet to be seen. However, the companies will promptly make an announcement if it should have any significant effect.
LVC launched a cryptocurrency exchange service accessible via LINE wallet on September 17. In Japan, Nomura Holdings company Nomura Securities also announced on September 30 that it had would be a founding member of the Japan STO Association, a self-regulated group for security token offerings (STOs) which are expected to gain more focus going forward.
*This article was written by Fisco