Japanese messaging giant Line to launch a cryptocurrency exchange

posted 22 days ago
Japan’s biggest messaging service announced today - its plans to start and operate a cryptocurrency exchange, to be enabled within its chat application that is ubiquitous among its 200 million monthly active users worldwide.

The Tokyo-based chat app confirmed that it has filed an application with the Financial Services Agency (FSA) – Japan’s financial regulator – to register and launch a cryptocurrency exchange. The application is currently under review.

The messaging giant’s initiative to offer cryptocurrency trading comes alongside the launch of a new company called Line Financial, which will also delve into offering financial services to users.

Line Financial follows Line’s already-popular mobile money transfer and payment service Line Pay, a service enabled within Line’s messaging app. In 2017, Line pay topped 40 million registered users globally with annual transaction volume exceeding ¥450 billion ($4.1 billion).
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