●Unchain as Joint Venture Company
●Aims at Developing Dapps Services and Expanding Blockchain Ecosystem
LINE, a listed Japan-based messenger app operator, announced that its South Korea-based subsidiary LINE PLUS formed a joint venture Unchain with ICON, the South Korea-based blockchain project, to build LINE’s blockchain network, along with Dapps development and the blockchain ecosystem.
ICON’s technical director H.K. Lee has been appointed as Unchain’s CEO.
Lee was cited as saying that the JV would promote an array of blockchain-based Dapps services for daily use, adding that Dapps service would catalyze LINE’s growth and ICON’s blockchain ecosystem.
LINE Plus has already established the new subsidiary “unblock”, in this April, to focus on the blockchain technology. LINE would aim at integrating the blockchain-related services into the LINE platform, according to the announcements.
LINE, which is listed on NYSE and TSE, has a market cap of about JPY 950bn(USD 8.5bn).