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Company Responsible For the Messaging App Line Will Launch Cryptocurrency Exchange House

The company behind the famous messaging application, LINE , has announced the creation of its own cryptocurrency exchange house , with the aim of strengthening its position in the financial domain of the business.

The project that integrates the next exchange house receives the name of LINE Financial Corporation , and will follow the objectives of LINE Pay, a mobile service of transfers and payments of the  native messaging application of the company. This new subsidiary has been established with the intention of revolutionizing its payment service and allowing in the future the option of being able to carry out transactions with cryptocurrencies, loans and insurance.

In addition, the company of Japanese origin ensures that they are hiring experts in  blockchain and finance to promote the research and development of such technology, and thus to offer the best possible service.

LINE currently has a contrasted activity between its financial growth and its clientele. According to figures shared by the Quartz web portal , its key clientele is divided between Japan , Taiwan, Thailand and Indonesia, with more than 165 million users . However, this figure is decreasing, and therefore it is expected that in the markets where the company does not have dominance the same phenomenon occurs.

On the other hand, the level of income of the company still remains striking for investors, despite the fall of users of the platform. LINE owes a large part of its income to the advertising of the application, showing positive numbers that are capable of correcting the possible losses on the part of the stickers, which are sold to the users; and from the content of the application itself, the other 2 options that, together with advertising, make up their source of income.

It is expected that the announcement and implementation of the exchange house and the new measures that will be carried out by LINE Financial Corporation will  attract new investors and increase the number of active users of the application. For the time being, the company has already submitted its license application as a cryptocurrency exchange house with the Japanese Financial Services Agency, and, as they indicate, it is still under review. Therefore they have not yet given an exact date for the launch of the platform, but probably not too far.

The post Company Responsible For the Messaging App Line Will Launch Cryptocurrency Exchange House appeared first on Target Veb.



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