Popular messaging app is launching its own cryptocurrency exchange

Line, a messaging app with 200 million users, is launching its own crypto exchange next month…

The company behind the Line messaging app has confirmed that it intends to launch its own cryptocurrency exchange. The Japanese firm will be launching said exchange in Singapore in July.

It follows the path trodden by Telegram, and Line will be looking to leverage its current userbase of 200 million active monthly users. The exchange will go by the name of Bitbox, and will initially offer trading in over 30 cryptocurrencies. It’ll charge a trading fee of 0.1%, and coins such as Bitcoin, Ethereum, and Litecoin are included in the initial line-up.

In the words of Line chief executive Takeshi Idezawa, “with cryptocurrency, we are going to take our challenge in financial services global”.

It’s the realisation of plans that have been in place for some time. Line had already confirmed back in January that it was seeking a licence for a currency exchange. Whilst that process took longer than expected – thanks to a series of high profile hacks on existing exchanges – it looks like the requisite paperwork is now in place.

Find out more at Line, here.

Image: Bigstock

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