Line-Nuriplex Builds 'Digital Currency' Platform for Latin America and Africa

[Asia Economy Reporter Bu Aeri] Naver affiliate Line Plus announced on the 27th that it has signed a memorandum of understanding (MOU) for a digital currency (CBDC) platform business in Latin America and Africa with global blockchain payment platform company Nuriplex.

Line aims to provide a CBDC blockchain platform in Latin America and Africa based on the Line blockchain in collaboration with Nuriplex.

They plan to develop customized CBDC blockchain platforms tailored to the policies and financial environments of each country and supply them to interested central banks.

The Nuriplex Group is a global leader providing large-scale data processing software platforms to power companies worldwide and is currently a key technology partner in Cameroon’s national health insurance system.

Lee Hong-gyu, Lead of Line Blockchain Lab, said, "We hope to combine Nuriplex’s business experience in Latin America and Africa with Line’s blockchain technology to bring financial industry innovation through CBDC in these regions."

Meanwhile, Line possesses its own blockchain technology that provides payment finality required to confirm transactions demanded by each central bank’s CBDC project, as well as speed and scalability to quickly process large volumes of payments. It operates payment and fintech services globally in countries such as Japan, Taiwan, and Thailand.

This content was produced with the assistance of AI translation services.