LINE announced on Thursday through a press release that it will launch an exchange for 30 cryptocurrencies in July. The platform, which will be called BITBOX, offers the exchange between virtual currencies and will be available worldwide, except for Japan and the United States
LINE will participate in the cryptocurrency business in accordance with the rules and regulations of the respective countries in the trade of virtual currencies.
Among the cryptocurrencies that are interchangeable in the application are Bitcoin, Ethereum and Litecoin.
Likewise, they announce that next to the launch of the platform, LINE will apply a special campaign in which no commission will be charged for the exchange of cryptocurrencies for one month.
You can exchange 30 or more cryptocurrencies in BITBOX, and it will support 15 languages, excluding Japanese. BITBOX only allows the exchange of cryptocurrencies, and does not accept the exchange between fiduciary money and cryptocurrencies.
With the need to market cryptocurrencies around the world, LINE has been preparing to provide opportunities for users to do so safely, and since the secure system is already working, the company will offer the service.
The fact that BITBOX is not available for Japan is due to regulatory difficulties, however, it has been talking about its viability since January. The cryptocurrency exchange sector in Japan is currently convulsed.
Many of the main markets have had to close due to the pressure of the regulations imposed in the country, in response to the hack of 530 million dollars to Coincheck last January.
LINE will continue to transform the financial experience of all users by providing friendly and innovative financial services to bridge the gap between people and money.
As the company moves towards a future without cash and without portfolios, LINE will actively participate in initiatives and create systems to accelerate the development of its business and strengthen its services as it strives to become a leader in the FinTech business. .
This was the launch of BeeChat in Korea, a messaging application based on Blockchain technology that also has a cryptocurrency distribution and exchange platform. The courier services are entering this market.