Cryptocurrency or digital currency is very popular in the world, thus attracting various merchants to plunge into the world of cryptocurrency, and there are even traders who come to provide digital currency services for profit.
LINE provides loan and bitcoin services.
Now, one of the social media that provides messaging services, LINE decided to enter the world of cryptocurrency. The Tokyo-based company said it is preparing a special subsidiary to operate cryptocurrency trading in Japan. Given that Japan is a paradise of Bitcoin Cs and the value of digital currency market capitalization in Japan is the largest in the world, after China and South Korea crack down on crypto currency.
Since January, LINE has set up a division that is involved in the service by offering loan and insurance funds.
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LINE has registered this business with the Financial Services Agency and strives to provide users with an easy and convenient service. In addition, LINE now also operates a payment system that has around 40 million users.
LINE has also created a low-cost phone service, LINE Mobile, whose operations have attracted the interest of telecoms giant Softbank to buy all of its app shares in March.
LINE and Softbank have reached an agreement, whereby Softbank will buy about 51% of LINE shares. Softbank believes that LINE's marketing strategy that targets young users will be successful and profitable.