Exchanges

LINE to launch BITBOX crypto exchange in July  

Image Credits: linecorp.com

Japanese mobile messaging giant LINE announced that it will launch its cryptocurrency exchange BITBOX in July.

The exchange will be available globally except in Japan and the U.S.  It will operate in 15 languages including English and Korean but will not support Japanese and Thai.

According to LINE, more than 30 cryptocurrencies will be available in the exchange, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

LINE official statement notes that BITBOX will only allow the exchange of cryptocurrencies. It will not be possible to exchange fiat money and cryptocurrencies.

“With the need to trade cryptocurrencies rising around the world, LINE has been preparing to provide opportunities for users to do so securely, and as the secure system is in place now, the company will be offering the service,” the company announced.

Let us remind that LINE has around 200 million monthly active users. The messaging app has expanded into adjacent services such as music streaming, taxis on-demand, mobile payments, etc.

LINE is making big steps to become a leader in the FinTech industry. In January this year, the corporation established LINE Financial Corporation as a follow-up to LINE Pay, a mobile money transfer and payment service available on the LINE messaging app.

“The company aims to actively promote research and development of technologies such as blockchain and provide a financial service that is convenient and safe to users. LINE is actively engaging in hiring persons who are experts in these technologies and in finance. In addition to its LINE Pay business, LINE will reinforce its position in the financial business domain through its businesses in LINE Financial Corporation and will continue closing the distance between people, their money, and services.”

 

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