Last week it was Robinhood, this week it is Line App!
Line is the most popular messaging App in Japan!
The Japanese based Line Corp announced that they will be launching a cryptocurrency exchange via their Line Pay App.
Line Pay is a subsidiary of the Japanese based Line Corp, and is already used as a money payment and transfer service.
According to the company, Line Pay experienced massive growth in 2017.
Line Pay did roughly $4.1 billion worth of transactions last year and there are currently over 40 million registered users of the service.
(Source: https://www.coindesk.com/japanese-app-provider-line-corp-to-launch-cryptocurrency-services/)
How will it work?
The plan is to create a separate subsidiary called the Line Financial Corporation which would let users exchange cryptocurrencies as well as other financial services with the app.
Line states that they have close to 200 million monthly active users but are starting to face pressures from WhatsApp in its four key markets of Japan, Thailand, Indonesia, and Taiwan.
The move is being done to help secure their place as the dominant messaging app in the minds of millennials.
Things are already set in motion.
The plan is already set in motion according to the company:
"The application process for registration as a virtual currency exchange has already been started with the Financial Services Agency, and it is currently under review."
If you recall, Japan has been very friendly towards cryptocurrency as they announced in April of 2017 that Bitcoin could be used as a legal form of payment within the country.
They have been one of the leaders in terms of Bitcoin trading volumes ever since.
This is yet another feather in the cap of cryptocurrency slowly becoming more and more mainstream.
Looking forward to more headlines like this popping up as the mainstream media keeps spreading FUD (Fear Uncertainty, and Doubt) so that I can get some lower prices on some of these coins I think are going to have a great 2018.
Stay informed my friends.
Image Source:
https://news.bitcoin.com/japans-most-popular-chat-app-in-talks-to-integrate-cryptocurrencies/
Follow me: @jrcornel
Yes, the Japanese are ahead of the game. But just remember; they are also leading the world in Crypto thefts. Be careful Steemians!
The Japanese really set the example on crypto regulations and adoption for the rest of the world. Why can't the European and American governments be so accommodating? We have much to learn from the Japanese.
Perhaps if Japan can show that it can be properly regulated and that it can prove to be useful for their citizens, some other counties will look to follow their lead.
Japanese embraces tech
This is really good for the community. It will help to bring masses to the Crypto. Last year Kik raised more than $98 million in ICO of kin token and now line is planning something.
def buying LINE stickers with crypto
lol Line is awesome :-)
Thank you nathen.
If you believe in Line then I think you should look into the kin token.
Line is awesome! Wasent expecting this, I collect LINE products, they even had a pop up store in times square NYC which is a awesome place to visit! I recommend it.
my friends all use line and the characters are so cute <3
Oh really? Thank you so much.Now I can take a deep breath and relax because I have invested like $1600 in Kin token but it hasn't been performing well and I was a bit worried.If people like line then I am hopefull about KIN too.
I saw a line cafe that was "opening soon" when I was in Bangkok 2 years ago. Too bad it wasn't open.
Thanks to crypto mania, there is a demand for exchange and financial service out there.
It does not have to do with big players. It is mostly from consumers to consumers.
At the end everybody gets a piece.
Again thanks to crypto.
Just wondering how big this market will be within three year span ??
Keep on steemin'
Wow. Japan is ahead of the game.
Square cash App as well came out to bring Bitcoin as well. Big things are coming!
Wow another major boost. I don’t expect this to raise prices on its own but it will open up the world of crypto to a whole new audience which means when prices pick up, they will be able to jump in as well! This could allow for even greater rapid gains next time round!!
I agree. It's just another step in the direction of mass adoption. :)
Just wait until about 2 3 4 5 18 23 different new apps drop lol its gonna be CRAZEEEEE (sips some soda laughs some more) haaaaa
Agreed. These announcements are not going to move the price by themselves but they position crypto to be much more accessible to the masses than it currently is. No need to spend weeks registering at exchanges and waiting for money transfers. You can use the app you already have!
Nice post...
Thank
Thats good, but there is something rotten in the trading.Many exchanges itself is investing and holding crypto coins??? people are smelling scam
Line is absolutely huge in SE Asia, especially where I am in Thailand. It is the number 1 messaging app. LinePay is in common usage for all sorts of online purchases and cinema tickets. They run so many promotions and vouchers. There is a massive ecosystem already built with lineman, deliveries, cloud storage, many games etc etc and their cute cartoon charaters are everywhere...I love Brown Bear personally....this could be huge in bringing crypto to the previously uninitiated. More great news today :-)
Best wishes and thanks :-)