Japan's Biggest Chat App Announces Plan for Cryptocurrency Services, Loans and Insurance

Japan's Biggest Chat App Announces Plan for Cryptocurrency Services, Loans and Insurance

Japan's Biggest Chat App Announces Plan for Cryptocurrency Services, Loans and Insurance

Line moved into crypto-currency territory by creating a new company, Line Financial Corporation.

But even when Japan is one of the most bitcoin-friendly countries on earth, companies like LINE are subjects to controls and regulations.

Line said it will start trading cryptocurrencies through "Line Financial", a new company that will also provide loans and insurance via its Line messaging app. Line now provides money transfer and payment services to 40 million users through its app.

With the crypto phenomenon really taking off, it seems like messaging apps are in a position to leverage the popularity since they already have strong, active user bases.

Smith loses it over LeBron James potentially joining the Warriors
Even then , in order to meet the NBA's salary cap Golden State would need to fill their bench with players on the league minimum. I don't give a damn how close they are, I don't care if it's my kids, or my wife or whatever.

The information technology (IT) industry at home and overseas expects that Line will link the digital currency trading function with its various platforms like simple payment service Line Pay. It has claimed that Line Pay received a global annual transaction volume exceeding JPY 450 billion and reached 40 million registered users. So the over 200 million users of the app have now something exciting to look forward to. Japan is now one of the most crypto friendly nations in the region as others such as South Korea continue to clamp down. This is a huge number, taking into account that one of the leading cryptocurrency exchanges, Coinbase, has nearly 13 million users.

Bloomberg reports that Line is also planning to expand its services into Hong Kong and Luxembourg and this would make the new cryptocurency exchange the one with the largest potential customer base. The hack is considered to be the biggest in the history of cryptocurrencies.

However it seems that LINE wants to be more than just a chat app and has announced their plans to launch their own cryptocurrency exchange.

Related news