Japan's instant messaging service, Line confirms its ambition to plunge into the cryptocurrency ecosystem or digital currency. The ambition is realized by the establishment of Line Financial Corporation as a new division to strengthen the position of Line in the business of fintech or financial technology.
Line Pay claimed success by reaching a global transaction volume of more than 450 billion yen and attracting 40 million users, Line wants to improve its financial services, including digital money transactions and exchange.
The Japanese company claims will play an active role in promoting research and technology development such as blockchain and improve the security of instant messaging in its application for the security of users.
Line claims to have registered a cryptocurrency license in Japan, and is currently under review.
This news is not too surprising, because Japan itself is one of the largest cryptocurrency market, and get a legal umbrella from the government.
Japan acknowledged bitcoin as a legitimate payment instrument and began enacting cryptocurrency licenses to protect consumers.