Line, the company behind a popular chat app in Japan, announced Thursday that will open a cryptocurrency exchange in July.
According to CNet, the new exchange, known as BitBox, was unveiled during a conference held this week in Japan by Line.
In an announcement release, Line said that the exchange would be purely crypto-to-crypto, meaning that it will not, at least for now, support government-issued currencies.
BITBOX only allows the exchange of cryptocurrencies, and does not accept exchange between fiat money and cryptocurrencies.”
The move comes months after Line launched a new company dedicated to crypto services, indicating at the time that it was eyeing an exchange launch.
As reported by Ethereum World News previously, social media giant LINE announced the creation of an in-house crypto-to-crypto exchange going by the name of BitBox. In LINE’s original announcement, the firm stated that it would offer the trading of thirty cryptocurrencies at a 0.
Bitbox, a new exchange and wallet, launched today with the intent to build on the wide appeal of its parent platform. That platform is Line, a popular international messaging app which has a history of integrating other commercial services.
Japanese social messaging app LINE will launch a cryptocurrency exchange for 30 coins next month, it revealed Thursday, June 28. As Cointelegraph reported in January, LINE had been in talks with Japanese regulators over launching an exchange.
Japan’s biggest social network LINE will launch a cryptocurrency exchange under a Singapore-based subsidiary in July — but will exclude Japanese and, initially, US users. ‘In Compliance With Rules And Regulations’ A press release issued June 28 confirms the move, which follows debates with Japanese regulators stretching back to January this year.
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