Line is leveraging its popularity with over 200 million users to launch its own cryptocurrency exchange program that supports 30 different coins, hoping to capitalize on the hot crypto market

The popular Japanese messaging company Line has jumped into the cryptocurrency market with its trading service Bitbox. The initiative allows for the trading of 30 different types of coins and opened for business on July 16.

BitBox charges a 0.1% trading fee and will support Bitcoin, Bitcoin Cash, Ether and Litecoin among others, and will run in 15 languages. The trading service has run into some problems with regulations: It will not be available in Japan and The United States, two of the biggest markets for cryptocurrency. In addition, it will not allow fiat trading, which means that crypto coins can only be exchanged for other crypto coins.

Line has had success with other releases, like its launch of Line Pay, which has acquired over 40 million registered users. The company is hoping for similar success with BITBOX. Line is pushing ahead with this service despite regulations and restrictions due to the current heavy interest in cryptocurrency. Line hopes that if it can encourage even a fraction of its over 200 million users to take part in the trading exchange, the program should be a success.

Line


Lead image: Bitcoin symbol on mobile app screen stock photo via Wit Olszewski/Shutterstock

The popular Japanese messaging company Line has jumped into the cryptocurrency market with its trading service Bitbox. The initiative allows for the trading of 30 different types of coins and opened for business on July 16.

BitBox charges a 0.1% trading fee and will support Bitcoin, Bitcoin Cash, Ether and Litecoin among others, and will run in 15 languages. The trading service has run into some problems with regulations: It will not be available in Japan and The United States, two of the biggest markets for cryptocurrency. In addition, it will not allow fiat trading, which means that crypto coins can only be exchanged for other crypto coins.