Line Messaging App to Launch its Crypto Exchange Platform in July

Appinventiv Technologies July 31, 2020
Line Messaging App to Launch its Crypto Exchange Platform

Months after the launch of Line Financial Corporation – a company dedicated to offering crypto related services, the market leader of the messaging app world has announced that it will launch its Crypto Exchange platform next month.

The messaging app industry’s leader unveiled BitBox, a cryptocurrency exchange platform in a conference held in Japan this week.

To close the distance between people and money, while keeping itself future centric by adopting the latest technologies, Line along with its sister company LVC Corporation (which focuses on blockchain and cryptocurrency services) has announced its plan to launch BitBox, which will be made live in July.

Through BitBox – the crypto exchange platform that will be functional in 15 languages including English and Korean – Line will offer crypto exchange service, where in it will be making the trade of over 30 cryptocurrencies possible among its users on a 0.1% trading fees.

The cryptocurrency names that the brand has revealed are – Ethereum, Litecoin, Bitcoin, and Bitcoin Cash. The messaging platform has confirmed that BitBox will not deal with Fiat money and that all the financial exchange will happen with cryptocurrencies only.

With BitBox, Line has has now become a part of the growing crypto exchange community that includes name like – Coinbase, Coinsquare, CEX.IO, and Kraken, to name a few.

Line is not the only Japanese company looking to expand in the Blockchain domain through the crypto exchange route. There are 5 other Japanese companies that will be launching their crypto exchange platforms by the end of 2018.

Let us take a look at them –

1. Money Forward

The popular Budget-managing app has made two crypto related announcements this week –

  • The brand announced its plan of establishing a subsidiary – Money Forward Financial Co. Ltd., which will start media specific to Blockchain and Virtual Currencies.
  • They will also partner with more than 20 crypto exchange platforms in Japan to offer accounting solution to the crypto traders.

2. Drecom

The mobile entertainment development and marketing company also made amendments in its Article of Incorporation in which they have stated their plans to enter “virtual currency exchange” domain, specific to the “Planning, operation and management of exchanges related to virtual currencies”

3. Yamane Medical Corporation

The brand operates in the personal care and nursing sector offering accommodation, off-site, and housing services etc.

The company is also planning to present partial amendments in its Article of Incorporation, adding in a number of crypto-specific businesses. They are planning to add system provision and consultation services related to virtual currencies. Also, they are planning to start crypto exchange business.

4. Adways

The Tokyo based mobile app marketing brand also declared amends in its Article of Incorporation, adding “Virtual currency related business” and “Virtual currency exchange business based upon the fund settlement law”

5. Avex

The Entertainment conglomerate after expanding into business areas like Video Games, Anime, and Music Events have now announced its plan to grow its business in Virtual Currency Exchange.

Wish to join the league of theses hot-shot names? Get in touch with our team of Crypto exchange development experts, today.

An Update: Line App Launches Crypto Token to Solve its User Growth Problem.

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