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Japan’s biggest messaging app is getting into crypto

Japan’s biggest messaging app is getting into crypto
[Photo: courtesy of Line]

Line, the Japanese messaging service best known for its emoji stickers, plans to introduce crypto trading, insurance, bill payment, and other financial services in the coming months, Bloomberg reports.

Line is the first major messaging service to apply for permission to open a cryptocurrency exchange. But with products like banking and insurance, the company will be following in the footsteps of rivals WeChat, based in China, and KakaoTalk, based in South Korea.

Line already operates a digital wallet, which it launched in 2014. The company processed over 300 billion yen ($2.7 billion) in transactions last year.AH