Japan's Largest Messenger Application, LINE Group Opens Cryptocurrency Exchange in Japan

Bloomberg reported, LVC--an affiliate of LINE's blockchain-related business, will obtain a license for an official cryptocurrency exchange as early as June after a review by Japan's Financial Services Agency to open cryptocurrency exchange in Japan, including its own currency Link.

LINE, which has 80 million users in Japan, opened a Bitbox in Singapore through a group company in July last year, and is offering services in United States and Japan, where there is no official license.

Meanwhile, on January 28th, 2018, the company announced the establishment of a new corporation, LINE Financial, which plans for its operation of the global cryptocurrency exchange to expand its financial business and offer various financial-related services such as loans and insurance.

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