Japan’s Line Corp Launches Own Exchange

The Japanese company behind the popular chat app, Line, have announced that they will be launching their own crypto exchange, Bitbox.

Line is the most popular chatting app in Japan with over 200m users.

The new exchange – Bitbox

The Japanese exchange will include more than 30 cryptocurrencies with a 15 language support.

Idezawa Takeshi, Line Corp’s CEO, commented that the selected cryptocurrencies have gone a through an extensive screening process ensuring that the users can keep their assets and securely make transactions.

Mr. Idezawa added that the cryptocurrencies would feature very low transaction fees – just 0.1%.

The only excluded countries to have access to the exchange are USA and Japan.

The exchange will feature the model of crypto to crypto exchange, without the involvement of fiat currencies.

Line Corp will launch its exchange after months of uncertainty

The company applied in January to operate as a crypto exchange. Each company must have Japan’s Financial Services Agency approval to have the rights to function. However, at that time one of the biggest exchanges, Coincheck was hacked. After that, the FSA have tightened their registration rules to ensure proper order among the Japanese exchanges.

In the recent Line Conference, the company announced that the exchange will be launched in July 2018.

The Line app is mostly used in Japan, Indonesia, Taiwan, and Thailand. Their daily active users to monthly active users in all countries are continuing to rise progressively.

John
 

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