Messaging App Is All Set To Become A Crypto Exchange
September 6, 2019 11:22 pm
Line, Japan’s famous messaging app, has just been approved for a digital currency business license in the country. According to the reports, the messaging Giant will be offing its crypto exchange services in Japan where it has 80 million monthly active users. The new platform will be called BitBox.
The license was provided by Japan’s Financial Services Agency, which mentioned on its website that the registration was completed on Sept. 6 in the name of LVC Corp. The same firm oversees LINE’s cryptocurrency and blockchain business units.
Takeshi Dezawa, President at LINE also revealed completed FSA registration to the Tokyo Stock Exchange today.
According to the report, last month Line was aiming to build a “token economy” around its own blockchain LINK Chain. It will offer two tokens – LINE Point in Japan and LINK for other nations – intends to connect users and service providers. Five decentralized dapps (decentralized applications) will soon be launched across categories including “prediction, Q&A, product review, food review and location review using social media.”
LINE said it “aims to flatten the relationship structure between users and service providers to promote co-creation and mutual growth.”