Japanese messaging app Line has signed a final agreement with financial giant Nomura Holdings to form a blockchain alliance.
Japanese messaging app Line has entered into a final agreement with financial giant Nomura Holdings to form a blockchain alliance.
Focus on blockchain technology
On Oct. 4, Line, together with Line Group company LVC Corporation and Nomura Holdings, announced that the three companies have signed the final capital alliance agreement, which is based on the collective intent to explore business opportunities in the blockchain industry.
Cointelegraph previously reported that the three partners had signed a memorandum of understanding at the end of January 2019, with the intention to sign a formal contract by the end of March.
According to the press release, Nomura Holdings completed its investment into LVC, which will further establish a financial alliance with a focus on blockchain technology.
This is not the first time that Line and Nomura have entered into a partnership. Earlier in 2018, they set up a firm to provide securities brokerage services and investment advice, where Nomura would own 49 percent and Line would control the remaining 51 percent.
Line currently has 81 million monthly active users in Japan.
Nomura Holdings invests in Coinbase-backed token
Cointelegraph reported on Sept. 24 that Nomura Holdings, together with two other major commercial banks, Santander’s VC arm Santander InnoVentures, and MUFG Innovation Partners, invested $14 million in Securitize, a Coinbase-backed token issuance protocol.