By
Steve Muchoki
April 23rd, 2024
The Japanese messaging app giant has launched a crypto-to-crypto exchange available in 15 languages. Low transaction fee and progressive security solutions are expected to attract users to the new global platform.
LINE is one of the most popular free messaging apps in the world created by a Japanese Internet giant Line Corporation. The platform was launched 7 years ago and since then it has evolved significantly. The features of the app go far beyond sending and receiving messages. An example of the messenger’s development is LINE Shopping Service integrated into the LINE app which exceeded 15 million registered users in February 2018. The next goal for Line Corporation is the success of its own cryptocurrency exchange Bitbox.
The launch of the new crypto exchange was officially announced by Line Corporation in the end of June 2018, it went live on the 16th of July. The new exchange support almost 30 cryptocurrencies including all the top ones like Bitcoin, Bitcoin Cash, Ether, and Litecoin. The platform covers token-to-token trading only.
“Line has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our Bitbox exchange,” said CEO of Line Corporation Takeshi Idezawa. “With Bitbox, we intend to have an exchange that is easier to use, while also ensuring we provide extremely strong levels of security.”
The crypto exchange platform claims to provide its users with exceptional security and risk management – and this promise can be trusted. Bitbox integrates the multi-signature technology developed by BitGo, one of the leaders in institutional-grade cryptocurrency security. Line Corporation is partnering this young company that has previously impressed the crypto community with an extra safe three-key Bitcoin wallet.
The Bitbox crypto exchange is a global platform translated into 15 languages. However, the regulatory hurdles have influenced the situation: the company had to lose such influential markets as Japan and the United States. The exception of Japan is particularly disappointing for the company as it is one of the key markets for the LINE app.
Like most of the messaging apps, LINE is amazing at attracting users. The early supporters of Bitbox will enjoy a number of benefits. During the first month after the launch the crypto exchange offers zero trading fee that will than raise up to 0.1%. The first registered users will also be rewarded. The first 2 million customers will get a nice welcome bonus of $10 that they can spend on trading.
Line Corporation is relatively new to the crypto sphere, but its overall intention to conquer the fintech market became evident in the beginning 2018. This period was marked by the establishment of Line Financial Corporation. The company has been also offering mobile money transfer and payment service since 2014 via Line Pay. However, the crypto sphere is not the only direction of work for Line Corporation as it is also interested in the lending business and insurance.