Line Pay App to Launch Cryptocurrency Services | 코인긱스

Line Pay App to Launch Cryptocurrency Services

0

The provider of a popular messaging app in Japan, Line Corporation, has announced the launch of a new company that will provide digital currency services.

The new company, dubbed Line Financial Corporation, will provide a platform to transact and exchange digital currencies, insurance and loans, a company release states.

In a move intended to build its position in the financial business sphere, the new company will also foster research and development of technologies like blockchain, it adds.

The cryptocurrency services will be made available via Line Pay app – the corporation’s mobile money payment and transfer app. Last year, Line Pay saw overall volume of annual transaction rise to almost 450 billion Japanese yen ($4,135,500,000), and registered users hit 40 million, the release claims.

The new entity is currently awaiting licensing by Japan’s authorities, Line Corp said.

According to the release:

“The application process for registration as a virtual currency exchanger has already been started with the Financial Services Agency [FSA], and it is currently under review.”

Japan has become one of the world’s most cryptocurrency-friendly jurisdictions over the last year, with rules and licensing aimed to encourage the industry while still protecting consumers.

Notably, in March 2017, the country recognized bitcoin as a legal payment method. And, six months later, the FSA started issuing operating licenses to cryptocurrency.

Line app image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at news@coindesk.com.

Source: www.coindesk.com
Line Pay App to Launch Cryptocurrency Services

No comments

비트코인닷컴, BCH P2P 거래 플랫폼 출시 예고

암호화폐 전문 미디어 비트코인닷컴이 공식 사이트를 통해 오는 6월 4일(현지 시간) 비트코인캐시(BCH, 시가총액 4위) P2P 거래 마켓플레이스 ‘로컬'(Local.Bitcoin.com)을 출시할 예정이라고 발표했다. 코인마켓캡 기준 BCH는 현재…