For the second time around, Line, a major messaging application in Japan, and Nomura Holdings, a financial holding company, had sealed another partnership that would give way to the establishment of a new Blockchain alliance.
Previously, Coinmod reported that the two companies, along with Line’s subsidiary, LVC Corporation, had signed a MoU (memorandum of understanding) early this year. The participants then agreed to seal the official contract around March. However, the final agreement had only been signed last October 4, following Nomura’s completion of investment into LVC Corporation.
The official contract states Line and Nomura’s collective intent of exploring new initiatives and opportunities in the Blockchain sector. Together, they aim to develop a Blockchain-based financial service system that would ultimately promote the benefits of the technology.
Notably, Line and Nomura had already teamed up with each other last year. The partnership launched an investment advisory firm that provides consultancy services for securities brokerage. According to the agreement, Line would have the controlling power with a 51% share.
Currently, Line messenger app has over 81 million active users in Japan. The partnership with Nomura Holdings is in part of the company’s new business roadmap that aims to add value to its existing services.
Meanwhile, Nomura Holdings said that the partnership with one of Japan’s leading messaging app is a massive step towards the company’s goal of becoming a global franchise. Aside from this new strategic partnership, Nomura had invested around $14 million in a token issuance protocol to be facilitated by Coinbase.