Line has filed an application for registering a cryptocurrency exchange with Japan’s financial regulators
Line already allows users to make payments through its app, and is hoping to tap into its user base of roughly 200 million monthly active users worldwide with this latest move.
This further underscores how Japan is one of the more welcoming jurisdictions for cryptocurrencies – as opposed to neighbours South Korea and China.
Line also said it wants to promote research and development into blockchain and also hire more experts in related technnologies and in finance. Line shares are up almost 3% on the day on Japan’s TOPIX index.