On the 6th of October 2020, Line Corporation announced that it would start providing a crypto lending service, including the digital assets Bitcoin and Ethereum that would obtain rental fees in return.
This crypto lending service was to kick off on the 7th of October 2020 for users will rent out their cryptos to BITMAX exchange and earn rent fees. The rental fee is the interest in a bank loan, and starts accumulating a day after the loan gets disbursed.
Users can also return the rented cryptocurrency assets within the smallest period possible, up to seven days. When the price of the digital assets fluctuates, one can end the lending and sell it early.
Line Corporation, LVC, planned to carry out a campaign running from the 7th of October through the 30th of October, raising the annual rate to 10%. The only eligible crypto assets for the lending service, for now, include; Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple.
Line Earlier On Launching Digital Asset Wallet and Blockchain Development Platform
On the 26th of August 2020, Line launched a wallet for users to manage their digital assets. It also launched a blockchain platform where developers can issue their tokens, tokenize digital assets and operate decentralized applications, dapps.
The blockchain development platform is Line Blockchain Developer, offering an easy and efficient way for developers to build blockchain services. Furthermore, Line blockchain facilitates the easy addition of blockchain technology to existing services for one of a kind token economies. The availability of Line’s blockchain allows companies and developers to focus their attention on improving UX and other platform facets.
BITMAX wallet, on the other hand, is the recently launched Line’s blockchain wallet for managing digital assets. In turn, users can centrally manage all their digital assets within one wallet. BITMAX connects to Line IDs; therefore, users only need a Line ID to exchange and effortlessly send and trade cryptocurrencies with other Line users.
About Line Corporation
The Japanese messaging software company, Line Corporation, developed the freeware application called Line. The objective of the innovation was instant communication on a myriad of electronic devices.
Statistics show that Line roughly has 80 million registered local users utilizing the messenger. Line corporation launched in 2011 and encompasses the development and operation of a wide range of services. These services include the creation of new businesses in Fintech, AI, and other domains.