Japanese messaging app Line has revealed its plans to launch a cryptocurrency exchange. The Line cryptocurrency exchange is going to be called Bitbox. It will offer 30 crypto currencies, including Bitcoin, Ethereum, and Litecoin.
The Line cryptocurrency exchange will be launched next month in Singapore and will command a trading fee of 0.01 per cent. This move on Line’s part will give it a boost against its counterparts WeChat and WhatsApp, who have already made forays into the blockchain and cryptocurrency industry. It’s peers Kik and Telegram have also released their own cryptocurrency.
The Asian messaging company has big plans for its financial services.
“With cryptocurrency, we are going to take our challenge in financial services global,” Takeshi Idezawa, the chief executive of Line, said at a conference on Thursday, Financial Times reports.
After Bitbox starts operating in Singapore, Line will be applying for a license to operate in United States.