LINE's Crypto Exchange Lists Its Own Token Against Bitcoin, Ether

Bitbox, the cryptocurrency exchange launched by Japanese messaging giant LINE, has announced it is now listing its own token for trading against several major crypto assets.

The company said Tuesday that the LINK token is now exclusively available on Bitbox in trading pairs with bitcoin, ethereum and the U.S. dollar-pegged stablecoin tether.

The move marks the latest step taken by the company as part of its efforts to apply blockchain and cryptocurrency to mainstream use cases.

Bitbox announced in August that it had launched a proprietary blockchain network called LINK Chain that utilizes a combination of delegated proof-of-stake and practical Byzantine fault tolerance as its consensus mechanism.

As CoinDesk reported at the time, the messaging firm plans to hand out 800 million of the total 1 billion LINK tokens for free to users who participate in decentralized applications that are already being launched on the LINK Chain network.

LINE added that in the coming months, it is launching three new decentralized applications focusing on various types of product review, via which users can earn LINK tokens in return for contributions.

The firm launched The Bitbox crypto-to-crypto exchange in July this year, making it available for in all countries except the U.S. and Japan due to the regulatory requirement for a license in those two nations.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.