Japan's largest instant messaging service, LINE, announced it would launch its crypto currency business locally.
The line said on July 31 that it would provide a service to exchange cash and crypto currency using the Line App.
On the 10th, the line established the local financial subsidiary, LINE FINCNAIAL, to operate its virtual monetary services.
He also applied for registration with Japan Financial Services Agency for a crypto currency exchange and is currently being reviewed.
Line is a subsidiary of Naver and is known to be based in Japan.
The timing of Line Financial's launch is still up in the air.
Line hopes to start the crypto currency sale service as soon as the exchange is screened for registration.
Line Financial uses the line app.
crypto currency transaction, such as bit coins,
Works with payments services using smartphone apps,
Sale of financial instruments, such as loans and insurance,
It will deal with technology development of block chain.
" In the mid - to long-term, the expansion of the FinTech market connecting finance and IT will continue, "
" We intend to provide more secure financial services by expanding the safety measures we have accumulated so far. " said Line.