LINE Xenesis partners with Crypto.com.
Why It Matters: LINE Xenesis Corporation and Crypto.com have signed a Memorandum of Understanding (MOU) to collaborate on digital assets.
This agreement demonstrates the companies' intent to leverage their combined expertise in the crypto space.
The Key Points
- In-kyu Lim, CEO and President of LINE Xenesis, and Eric Anziani, Chief Operating Officer of Crypto.com, formalized the agreement. This partnership aims to optimize crypto asset business solutions by leveraging the resources of both companies.
- LINE Group has initiated several blockchain-related projects, including establishing the LINE Blockchain Lab in 2018. These include the Finschia blockchain, formerly known as the LINE blockchain, and their crypto asset "LINK," which has been rebranded as "FINSCHIA." They also operate the "LINE BITMAX" trading service and the "LINE NFT" marketplace.
- Crypto.com's reach: Founded in 2016 and based in Singapore, Crypto.com has a global user base of 80 million. The collaboration with LINE Xenesis is designed to address the liquidity of transactions on "LINE BITMAX," improve crypto asset settlement processes and explore opportunities in the NFT space.
- About Web3 and Finschia: Managed by LINE TECH PLUS PTE. LTD, the Finschia Foundation, based in Abu Dhabi, UAE, commenced operations earlier this year. With its "Token Economy 2.0" strategy, the Foundation will manage the third-generation blockchain mainnet "Finschia" and the crypto asset "LINK."
The Big Picture: Comments from stakeholders, including In-kyu Lim and Eric Anziani, highlighted the potential benefits of pooling resources and expertise.
The collaboration aligns with LINE Xenesis' goal to more seamlessly integrate blockchain into everyday use.
This partnership could be a significant step for both companies in navigating and potentially influencing the evolving crypto industry landscape.