Japan’s message app Line rolls out crypto exchange, BITBOX

July 16, 2018
Chris Wheal

Japan’s chat giant, Line, officially began its new cryptocurrency exchange BITBOX offering up financial services to its more than 200 million monthly users around the globe.

Line messaging app offers up cryptocurrency exchange, BITBOX

 

The social messaging platform is extending into financial services saying in a release that it wanted to close the distance between people and money. The exchange is just one of the services it plans to offer and said. “With the need to trade cryptocurrencies rising around the world, LINE has been preparing to provide opportunities for users to do so securely, and as the secure system is in place now, the company will be offering the service.”

Everywhere but Japan and North America

Line announced news of the planned rollout back in January. The exchange will be operated through its Singapore based company, Line Tech Plus. It will trade at least 30 cryptocurrencies including bitcoin (BTC), ethereum (ETH), bitcoincash (BCH) and litecoin (LTC).

It will also support 15 languages but it won’t include Japanese as the exchange will operate neither in Japan nor North America as a result of more stringent oversight.

Further BITBOX is a cryptocurrency only exchange and fiat currencies are not being offered currently. Line says its emphasis is on a “user-centred experience and first-rate customer service” along with highest levels of security and transparency. The latter is to be delivered through its link up with BitGo.

Line’s CEO Takeshi Idezawa said “Line has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange.”

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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