Line is the most popular messaging App in Japan!
The Japanese based Line Corp announced that they will be launching a cryptocurrency exchange via their Line Pay App.
Line Pay is a subsidiary of the Japanese based Line Corp, and is already used as a money payment and transfer service.
According to the company, Line Pay experienced massive growth in 2017.
Line Pay did roughly $4.1 billion worth of transactions last year and there are currently over 40 million registered users of the service.
(Source: https://www.coindesk.com/japanese-app-provider-line-corp-to-launch-cryptocurrency-services/)
How will it work?
The plan is to create a separate subsidiary called the Line Financial Corporation which would let users exchange cryptocurrencies as well as other financial services with the app.
Line states that they have close to 200 million monthly active users but are starting to face pressures from WhatsApp in its four key markets of Japan, Thailand, Indonesia, and Taiwan.
The move is being done to help secure their place as the dominant messaging app in the minds of millennials.
Things are already set in motion.
The plan is already set in motion according to the company:
"The application process for registration as a virtual currency exchange has already been started with the Financial Services Agency, and it is currently under review."
If you recall, Japan has been very friendly towards cryptocurrency as they announced in April of 2017 that Bitcoin could be used as a legal form of payment within the country.
They have been one of the leaders in terms of Bitcoin trading volumes ever since.
This is yet another feather in the cap of cryptocurrency slowly becoming more and more mainstream.
Looking forward to more headlines like this popping up as the mainstream media keeps spreading FUD (Fear Uncertainty, and Doubt) so that I can get some lower prices on some of these coins I think are going to have a great 2018.
Stay informed my friends.
Image Source:
https://news.bitcoin.com/japans-most-popular-chat-app-in-talks-to-integrate-cryptocurrencies/
