Japanese messaging application Line has finalized a partnership with financial tycoon Nomura Holdings to create a blockchain alliance.
On October 4, Line, along with Line Group firm LVC Corporation and Nomura Holdings, declared that the three firms had inked the final capital alliance agreement, which is based on the collective goal to look into exploring business opportunities in the blockchain tech.
It was previously reported that the three partners had entered a memorandum of understanding at the end of January, intending to sign an official contract before the end of March.
As per the press release, Nomura Holdings completed its investment into LVC, which will further set up a financial alliance with an emphasis on blockchain innovation.
This isn’t the first time when that Line and Nomura have gone into a collaboration. Earlier last year, they set up a company to offer investment advice and securities brokerage services, where Nomura would have 49 percent ownership, and Line would have the remaining 51 percent.
Line at present has 81 million monthly dynamic clients in Japan.
It was previously reported on September 24 that Nomura Holdings, together with two other major commercial banks, Santander’s VC arm Santander InnoVentures, and MUFG Innovation Partners, put $14 million in Securitize, a Coinbase-backed token issuance protocol.