On January 10 we have reported that according to the anonymous source of Bloomberg, the Line Corp. was working on the integration of cryptocurrency into its own messenger.
On January 31, Line Corporation officially announced that it had established a new company, Line Financial Corporation as a follow-up to Line Pay, which is a mobile money transfer and payment service available on the Line messaging app, in order to reinforce its position in the financial business domain.
Line Corporation has claimed that it would use the new company as a base preparing to provide different financial services, including a place to exchange and transact digital currencies, loans, and insurance making it all possible through the Line application.
In addition to the high-level of security that Line has cultivated for use in its day-to-day messages, the company aims to actively promote research and development of technologies such as blockchain and provide a financial service that is convenient and safe to users. Line is actively engaging in hiring persons who are experts in these technologies and in finance.
Line Financial Corporation Overview
As it was stated in the official announcement of the company, the application process for registration as a virtual currency exchanger has already been started with the Financial Services Agency, and it is currently being revieved.