Japan’s Line Corporation has acquired South Korean firm GrayHash for a big push in its fintech security capabilities.

GrayHash is described as an online security research centre specialising in “offensive research” and counter-hacking techniques.

With the acquisition, the company has been renamed GrayLab and tasked with developing and optimising cybersecurity solutions for Line’s services, including messenger, artificial intelligence (AI), blockchain and the digital asset exchange.

As reported in August, Line launched its first digital token, Link, and its first blockchain network, Link Chain.

GrayHash CEO and co-founder SeungJin Lee will continue as lead of GrayLab. As you’d expect he has plenty of expertise – serving as an advisor for the Cyber Bureau of Investigation at the Seoul Eastern District Prosecutor’s office and the Korean military’s Cyber Command.

Line is making some good progress in fintech. Along with Link and Link Chain above, last month it teamed with Mizuho Financial Group to establish a new smartphone-based bank in Japan.

The duo agreed to establish a joint venture to start discussions on making the bank through their subsidiaries (Line Financial and Mizuho Bank).

 

Re-disseminated by The Asian Banker bankingtech.com

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