Japanese messaging app Line is set to launch a cryptocurrency exchange called Bitbox in Singapore next month.

The cryptocurrency exchange will be launched in collaboration with LINE group company LVC, which operates cryptocurrency and blockchain businesses.

The service will be available across the world, except Japan and the US. The service is also not intended for Japanese nationals residing outside the country.

Line stated that it will carry out cryptocurrency business in line with the regulations of respective countries.

Bitbox users can exchange 30 or more cryptocurrencies including Bitcoin, Ethereum, Bitcoincash, and Litecoin. The exchange will support 15 different languages including English and Korean.

The centre will not support exchange between fiat money and cryptocurrency. All exchanges will be made at a trading fee of 0.1%.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“With the need to trade cryptocurrencies rising around the world, LINE has been preparing to provide opportunities for users to do so securely, and as the secure system is in place now, the company will be offering the service,” the messaging app said in a statement.