LINE, a Tokyo-based subsidiary of the South Korean web search engine firm Naver, is constructing a platform for growing central financial institution digital currencies, South Korean information company The Chosun Ilbo reported on Oct. 19.

Sources accustomed to the matter reportedly informed The Chosun that LINE goals to assist the event of a so-called “personalized CBDC.”

The messaging firm is discussing the applying of its blockchain-based CBDC platform with a number of central banks in main Asian nations, based on the report. LINE executives stated that they can’t disclose the precise nations which can be contemplating the platform’s utility.

A LINE spokesperson informed Cointelegraph that the agency goals to “present a blockchain platform that’s match for CBDCs based mostly on LINE Blockchain.”

LINE has been actively exploring the crypto and blockchain business. In August 2020, it launched a blockchain improvement platform for decentralized functions and companies and a digital asset pockets named Bitmax. Earlier this 12 months, LINE’s crypto subsidiary LVC Company launched buying and selling of its proprietary cryptocurrency Hyperlink (LN) in Japan.

Various Asian nations are planning for their very own CBDCs. On Oct. 9, the central financial institution of Japan formally introduced that it’ll begin a CBDC proof-of-concept in 2021. On Oct. 7, the South Korean central financial institution reportedly claimed that it’ll start the distribution section of its CBDC pilot scheme subsequent 12 months.