Line Launching Cryptocurrency Exchange Next Month

Popular cross-platform messaging app Line has confirmed that it’s going to launch a cryptocurrency exchange called BitBox in July. The move isn’t surprising as Line had said back in January this year that it was thinking about entering the crypto game with an exchange. Line has clarified today, though, that its exchange won’t be open to customers based in the United States and Japan likely due to regulatory uncertainty.

Line may have started out as a messaging service but it has since expanded its offerings to over music streaming, on-demand taxis, food delivery, mobile payment, and a lot more. A move into crypto certainly makes sense for the company.

Line’s BitBox exchange will have support for trading 30 different kinds of tokens including some big names like Bitcoin, Bitcoin Cash, and Ethereum. Line says that the supported tokens were selected after an “extensive” screening process. There will be a trading fee of 0.1 percent.

The exchange will be available to people across the globe and in 15 languages but it won’t welcome customers from the United States and Japan. It’s pertinent to mention here that BitBox won’t be handling fiat, or conventional currencies, as it’s going to facilitate trading between tokens only. This means that you can’t take your dollars to buy bitcoin on BitBox but you can take your Bitcoin Cash to buy Litecoin.

Adnan Farooqui
Categories: General
Tags: cryptocurrencies, line