The developer of the Line instant messenger confirmed the information that it will launch a cryptocurrency exchange called BitBox next month. This is reported by TechCrunch.
In January, the company said that it plans to enter the cryptocurrency area with the launch of its own trading platform, but today it specified that BitBox will not be available to users from the US and Japan.
The new site will support 30 cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin, and charge a commission of 0.1% for transactions. Line reported that it was taking tokens during the “an extensive screening process” which saw an internal commitment asses what on the market represents “the most reliable and safest trading for users.”
BitBox will be available worldwide, except for the two countries mentioned above, in 15 languages. New platform won't support fiat.
Every month, 200 million people use the Line Messenger. The possibilities of the service are not limited to the transmission of messages. It also allows to listen to music, send payments, etc. Most Line users live in Japan, so excluding Japanese traders will significantly limit the potential impact of BitBox.