Japanese Internet company LINE Corp announced yesterday that it signed a memorandum of understanding with LVC, which is responsible for operating the LINE cryptocurrency transaction service, and Nomura Holdings of Japan, and began discussions on the formation of a financial business alliance focused on blockchain technology.
Specifically, the three parties will consider establishing a capital alliance, that is, LVC will increase capital by using a third-party allotment form to Nomura. The memorandum of understanding outlines the general terms and details to be considered by the Alliance. The tripartite plan is to complete the final contract by the end of March this year.
The announcement mentioned that the three parties signed the memorandum of understanding because they hope to cooperate and seize the blockchain business opportunities through LINE’s huge user base and its safe and convenient UI/UX, as well as Nomura’s mature financial business knowledge. At the same time, the impact of the establishment of the alliance on the comprehensive income of LINE, LVC and Nomura are expected to be negligible; if there is a significant impact in the future, the three companies will announce immediately.