Messaging Giant Line Launches Token Venture Fund

token venture fund

LINE, the Japanese messaging giant, has today announced the launch of its token venture fund.

The Token venture fund will have a capital commitment of $10 million USD via LINE’s subsidiary, Unblock Ventures. Unblock Ventures was recently established in Hong Kong in only July of this year.

Token Venture Fund

The publicly traded LINE made the announcement earlier today and said its goal is to invest in blockchain startups with the ambition of boosting technological development.

Unblock Ventures, will manage the fund but the actual capital of $10 million will be provided ...

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LINE Launches $10 Million Token Venture Fund, Lists TRON on Crypto Exchange

Japan’s largest messaging app LINE has established a new corporate token venture fund with $10 million in capital for startups in the blockchain and crypto industry. With over 600 million registered users and 200 million monthly active users worldwide on its messaging app, Japan’s LINE announced its entry into the cryptocurrency space after filing to

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Messaging Giant LINE’s Cryptocurrency Exchange Begins Global Operations

Japanese mobile giant LINE has officially launched operations of its Singapore-based cryptocurrency exchange BITBOX with support for 30 cryptocurrencies including bitcoin. With an announcement on Tuesday, LINE confirmed the exchange will only support crypto-exclusive trading pairs with no trading offered between fiat currency and cryptocurrencies. Around 30 coins are being traded presently at launch including … Continued

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Canadian Crypto Exchange Coinsquare to Launch in Japan

Canadian Crypto Exchange Coinsquare to Launch in Japan

Canadian cryptocurrency exchange Coinsquare has announced its plan to enter the Japanese market pending approval by the country’s financial regulator. The new exchange will be launched under the Dlta21x brand. It will focus on Japan initially but has plans to expand into other Asian markets.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Coinsquare Launching in Japan

Canadian Crypto Exchange Coinsquare to Launch in JapanCoinsquare made two announcements on Tuesday. One is the official launch of Coinsquare Licensing to “enable domestic and international businesses to offer a digital currency trading solution powered by Coinsquare’s technology.” The company also revealed that it has already partnered with some businesses in the EU and Canada to launch white-labeled platforms.

The other announcement is its plan to enter the Japanese market using Coinsquare Licensing. The launch will be in collaboration with Dlta 21 Blockchain Corp (Dlta21), formerly Protos Blockchain Corp. According to the companies:

The new trading platform is to be launched under the Dlta21x brand name after receiving all required regulatory approvals in Japan.

Canadian Crypto Exchange Coinsquare to Launch in JapanFounded in 2014, Coinsquare offers the trading of BTC, BCH, ETH, LTC, DOGE, and DASH. The exchange claims to be “Canada’s most secure digital currency trading platform,” with a “95% cold storage policy on all digital currency.” The company also owns Coinsquare Mining with operations in Québec.

Dlta21 is a venture capital firm focused on blockchain startups. The company invests in “early-stage distributed ledger technology startups” and manages “a cryptocurrency trading operation backed by advanced quantitative algorithms,” its website describes.

International Expansion

Canadian Crypto Exchange Coinsquare to Launch in JapanThe two companies say, “while customers in Japan will be the initial focus of the Dlta21x cryptocurrency exchange, based on applicable laws, regulations and restrictions, going forward Dlta21x plans to expand to other Asian markets as well.”

Earlier this year, Coinsquare unveiled its plan for an initial public offering in September “to help finance an overseas expansion.” For its expansion into the U.S. and the U.K., CEO Cole Diamond was quoted by the Financial Post saying:

We believe that we will be a strong competitor to Coinbase and other exchanges in the U.S. by the end of the year.

The Japanese Crypto Market

Canadian Crypto Exchange Coinsquare to Launch in JapanCurrently, Japan has 16 government-approved cryptocurrency exchanges and a number of “deemed dealers” that have been allowed to operate crypto platforms while their applications are being reviewed by the country’s top financial regulator, the Financial Services Agency (FSA).

However, since the hack of Coincheck in January, the FSA has drastically tightened its oversight of the industry. It has already sanctioned a number of deemed dealers and recently ordered six licensed exchanges to improve their businesses, including the country’s largest crypto exchange by volume, Bitflyer.

Despite the increased oversight and stricter exchange approval process, the FSA confirmed to news.Bitcoin.com:

More than 100 [crypto] operators have expressed their intention of enter the market.

Among major companies seeking to enter the Japanese market is Line Corp, the operator of the country’s most popular chat app, Line. The company recently announced that it is launching a crypto exchange, Bitbox. However, since its application with the FSA is still pending, Line will not offer services in Japan initially.

What do you think of Coinsquare expanding into Japan and other Asian markets? Let us know in the comments section below.


Images courtesy of Shutterstock, Dlta21, and Coinsquare.


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Japan’s Line Launching Exchange With 30+ Cryptocurrencies in All but Two Countries

Japan's Line Launching Exchange With 30+ Cryptocurrencies in All but Two Countries

The operator of Line, Japan’s most popular chat app with approximately 200 million users worldwide, has confirmed the upcoming launch of its cryptocurrency exchange called Bitbox. The new platform will list more than 30 of the most popular cryptocurrencies, offering “low trading fees”. Supporting 15 languages, the new exchange will launch globally, except for two countries.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Line Corp Launching Crypto Exchange Next Month

Japan's Line Launching Exchange With 30+ Cryptocurrencies in All but Two CountriesLine Corp, the operator of Japan’s most popular chat app, announced Thursday at the Line Conference 2018 that “it plans to establish the cryptocurrency exchange Bitbox in July 2018.” According to the company’s official announcement:

Bitbox will offer more than 30 highly demanded cryptocurrencies for global users (except in Japan and the United States), with support in 15 languages.

Line Corp elaborated that the 15 languages include English, Korean, and Chinese. Furthermore, the company emphasized that the new platform will be a “Cryptocurrency-to-cryptocurrency exchange (no fiat currency trading available).”

Japan's Line Launching Exchange With 30+ Cryptocurrencies in All but Two Countries

According to the company, in the first quarter of this year, its chat app had 165 million monthly active users (MAU) across four key countries: Japan, Taiwan, Thailand, and Indonesia. In Japan, there were 75 million users in that time period, which was 2 million more than the previous quarter. While Line has continually gained more users in Japan, it has lost users in the other three markets combined. Nonetheless, its overall DAU (daily active users) to MAU ratio has been steadily growing.

About Bitbox

Japan's Line Launching Exchange With 30+ Cryptocurrencies in All but Two CountriesThe CEO of Line Corp, Idezawa Takeshi, commented that “with Bitbox, Line users will be able to access cryptocurrencies more easily, while also being assured of state-of-art security measures to protect their assets.”

Line Corp explained that the cryptocurrencies to be listed on Bitbox “have gone through an extensive screening process.” They were “selected by an internal committee to offer the most reliable and safest trading for users,” the company noted, adding:

Bitbox will trade highly demanded coins, including bitcoin, ethereum, bitcoin cash, and litecoin, while offering low trading fees of 0.1%.

Japan's Line Launching Exchange With 30+ Cryptocurrencies in All but Two Countries

In January, the company said it had applied for a registration to operate a crypto exchange with the Japanese financial regulator, the Financial Services Agency (FSA). Under the revised fund settlement law, all crypto exchanges in Japan must register with the FSA. However, the process was held up after one of the largest crypto exchanges in the country, Coincheck, was hacked which prompted the FSA to tighten its oversight and registration rules. Recently, the agency issued business improvement orders to six fully-licensed crypto exchanges including the country’s largest, Bitflyer.

What do you think of Line Corp launching a crypto exchange? Do you think millions of the Line Chat app users will be using it? Let us know in the comments section below.


Images courtesy of Shutterstock and Line Corp.


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Messaging Giant LINE Announces New Global Crypto Exchange, Excludes U.S., Japan

Japanese messaging app LINE has announced plans to launch its cryptocurrency exchange BITBOX in July with support for 30 coins including bitcoin. In an announcement on Thursday, LINE revealed the new exchange will only allow for crypto-to-crypto trading with no exchange between fiat currency and cryptocurrencies. In an excerpt, LINE said: With the need to … Continued

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Chat app Line to launch crypto exchange in July but it won’t cover US or Japan

Messaging app firm Line has confirmed it will launch a cryptocurrency exchange called BitBox next month.

The company said back in January that it planned to enter the crypto space with an exchange, but today it said that the BitBox service won’t be available for users in the U.S. and Japan — that’s presumably down to regulatory uncertainty.

What it will include, however, is support for trading 30 tokens — Line is only revealing big names like Bitcoin, Ethereum, Bitcoin Cash, and Litecoin so far — and a 0.1 percent trading fee. Line said it has picked the tokens following “an extensive screening process” which saw an internal commitment asses what on the market represents “the most reliable and safest trading [options] for users.”

Bitbox will be available worldwide and in 15 languages. It isn’t yet clear whether it will include an option to buy or sell tokens using fiat — a key ramp to getting new money into crypto — or whether this will just be token-to-token trading.

Line has around 200 million monthly active users and it has expanded into adjacent services such as taxis on-demand, music streaming, mobile payment and more, so this foray could represent a step towards accepting crypto for its other services in the future. But the exclusion of U.S. and Japan-based users is a major caveat.

Japan is Line’s largest market for revenue and users, so by excluding the country, it is severely limiting the potential impact that Bitbox can have.

Nonetheless, the company is need of something fresh to revitalize its business in the wake of increasing competition from Facebook, which operates WhatsApp and Messenger, the world’s most popular messaging apps with over one billion monthly users each.

Prior its $1.1 billion U.S.-Japan IPO in 2016, Line had targeted a global audience via its messaging service — which pioneered the concept of stickers — and a connected games business. Its international expansion didn’t go according to plan, however, and the company refocused efforts on its four core markets of Japan, Thailand, Taiwan and Indonesia, which account for 168 million of its active users.

In those markets, it offers a range of localized services that include video streamingmanga cartoonsshoppingride-hailing and other on-demand services. Last year, it began to sell smart hardware and AI to offer its own cartoony alternative to Amazon’s Echo range and Google Home devices. In some markets, it also offers a Line-branded mobile phone/data service.

There’s plenty of pressure, however. Facebook’s global popularity makes Messenger an option for most internet users on the planet while the company is busy in other areas. WhatsApp recently moved into business solutions that allow companies to correspond with users via its service, and it is tipped to add payments soon. CEO Mark Zuckerberg pledged to look into whether Facebook can make use of blockchain technology and earlier this year he set up a dedicated division that is headed by David Marcus, the ex-lead for Messenger and former CEO of PayPal.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

ICON (ICX) Partners with Social Media App LINE: More Customers to Join Blockchain?

ICON partners with LINE in a move that could bring as many as 200 million users to the ICX blockchain. Will ICON (ICX) begin to grow as a result?

ICON Partners with LINE

The 19th largest cryptocurrency is working with Japan’s biggest social media messaging app to develop dApps on the ICX blockchain, reports CCN.

The LINE messaging app has over 200 million monthly active users, and both companies are hoping that LINE’s customer base will start interacting with the blockchain and the dApps once they’ve been developed. The other hope is that the ...

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200 Million Users Messaging Giant LINE Partners Blockchain Project ICON

ICON, the $1.6 billion blockchain project created by developers from South Korea, has secured an official partnership with LINE, Japan’s largest messaging app that supports more than 200 million monthly active users. LINE’s Entrance Into Cryptocurrency Exchange Market On January 31, CCN reported that LINE is set to launch a cryptocurrency exchange within 2018 with … Continued

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Exclusive: 200 Million Users Messaging Giant LINE Partners Blockchain Project ICON

ICON, the $1.6 billion blockchain project created by developers from South Korea, has secured an official partnership with LINE, Japan’s largest messaging app that supports more than 200 million monthly active users. LINE’s Entrance Into Cryptocurrency Exchange Market On January 31, CCN reported that LINE is set to launch a cryptocurrency exchange within 2018 with … Continued

The post Exclusive: 200 Million Users Messaging Giant LINE Partners Blockchain Project ICON appeared first on CCN

Bitcoin.com’s This Week in Bitcoin Podcast is Mandatory Listening

Bitcoin.com’s This Week in Bitcoin Podcast is Mandatory Listening

Veteran podcaster Matt Aaron lends his curation and vocal talent to a smooth few minutes each week in summation of the Bitcoin world’s most important news, This Week in Bitcoin (TWiB). Every Friday, listeners get breakdowns and commentary in bite-size format, leaving them informed and with plenty of time to go about their day.

Also read: The Bitcoin.com Podcast Network Presents: This Week In Bitcoin

Each Friday, the Bitcoin World’s Most Important News

The Bitcoin.com Podcast Network is growing with the launch last month of This Week in Bitcoin, a weekly ten to fifteen minute summary of all things Bitcoin ecosystem. Mr. Aaron is the show’s host by way of Bogotá, Colombia, where he began podcasting for his Food Startups Podcast to promote exporting exotic South American fruit to the United States.

He sheepishly admits to earning his first slice of bitcoin wagering on Donald Trump’s eventual victory in the 2016 presidential election, though he’s careful to explain it wasn’t an endorsement … just cold, cool speculation.

Friday’s Quick Fix: This Week in Bitcoin is Mandatory Listening
Matt Aaron’s view from this year’s North American Bitcoin Conference in Miami

“For those that want to keep up with the Bitcoin world but don’t have tons of time,” he explained to News.Bitcoin.com, “this is a 10 minute weekly show people can listen to on their commute, at the gym, etc. We want to build the #1 podcast network in the cryptosphere, and focus on shows that can be enjoyed by everyone,” he stressed.

Mr. Aaron already has five TWiB episodes in the can, the latest dropped this Friday. Every Friday, in fact, listeners can expect to be greeted by a sultry British rose announcing a fresh broadcast while interspersed with electronica. Mr. Aaron then takes over, presenting the most relevant stories of the week between synth breaks for punctuation.

Friday’s Quick Fix: This Week in Bitcoin is Mandatory Listening

With weekly help from News.Bitcoin.com‘s Kai Sedgwick, the current round of news he labeled good, bad, and bizzare, noting Facebook’s crypto ad ban and whether that’s a positive; Square’s continued love for bitcoin; more South Korea news; the entrance of Samsung into the ecosystem; Tether’s troubles; initial coin offering scams; El Petro’s white paper from Venezuela’s executive; and the Japanese app Line’s launching of crypto trading. These are market-moving pieces, ones savvy bitcoiners need to be apprised in order to stay informed. 

In addition to TWiB, February 13th the Bitcoin.com Podcast Network will publish a new show, Humans of Bitcoin with host Katie, a journalist covering the real lives of bitcoiners which will include some higher profile guests. Keep up with TWiB at its landing page, subscribe on iTunes or Stitcher, and be sure to leave a comment and rating to help others learn about the show.

What kinds of bitcoin-related podcasts would you like to hear? Let us know in the comments section below.


Images courtesy of Pixabay, TWiB.


Not up to date on the news? Listen to This Week in Bitcoina podcast updated each Friday.

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Japan’s Most Popular Chat App Launching Cryptocurrency Exchange

Japan’s Most Popular Chat App Launching Cryptocurrency Exchange

The operator of Japan’s most popular chat app with approximately 168 million monthly users has announced its plans to launch a cryptocurrency exchange. Line Corporation has already begun the registration process as a crypto exchange with the country’s financial regulator.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Line Starting Crypto Business

Japan’s Most Popular Chat App Launching Cryptocurrency ExchangeThe operator of Japan’s most popular messaging app, Line Corporation, officially announced its plans on Wednesday to launch a cryptocurrency exchange.

The company has established a subsidiary called Line Financial Corporation “as a follow-up to Line Pay” in order to “further reinforce its position in the financial business domain,” its announcement details, adding that:

Going forward, Line will use this new company as a base as it proceeds with preparations to provide a variety of financial services, including a place to exchange and transact virtual currencies, loans, and insurance – all from the Line app

Japan’s Most Popular Chat App Launching Cryptocurrency ExchangeLine Pay is the mobile money transfer and payment service linked to the Line chat app. Launched in 2014, it has signed deals with over 30 banks across Japan to allow instant transactions using its platform, as news.Bitcoin.com previously reported. In Wednesday’s announcement, the company claims that Line Pay’s registered users have reached 40 million and its global transaction volume last year exceeded 450 million yen (~US$4.14 million). However, the company has not confirmed whether its new cryptocurrency exchange will be integrated into Line Pay.

Application to Operate a Crypto Exchange

Since the Japanese Payment Services Act went into effect in April of last year, all companies seeking to operate cryptocurrency exchanges must register with the country’s Financial Services Agency (FSA). So far, 16 crypto exchanges have been approved.

Line revealed on Wednesday:

The application process for registration as a virtual currency exchanger has already been started with the Financial Services Agency, and it is currently under review.

Japan’s Most Popular Chat App Launching Cryptocurrency ExchangeThe company’s announcement came amid the FSA’s investigations of all cryptocurrency exchanges in Japan following the recent hack of one of the country’s largest crypto exchanges, Coincheck. The FSA typically takes two months to approve a registration, except for Coincheck’s application which it has been reviewing for over four months.

Regarding the Coincheck hack, president and CEO of Line Corporation Takeshi Uezawa commented that “security is Line’s priority,” NHK reported.

Line’s crypto exchange announcement came as its counterpart in South Korea rose to become the country’s largest crypto exchange by trading volume in just a few months. Upbit is an exchange backed by Kakao Corp which operates South Korea’s most popular chat app, Kakao Talk. While Upbit has over 120 coins listed due to its partnership with the US-based Bittrex, Line has not revealed how many cryptocurrencies will be supported on its platform.

Do you think Line’s crypto exchange will do well? Will you use it? Let us know in the comments section below.


Images courtesy of Shutterstock, Nikkei, and Line Corporation.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japan’s Most Popular Chat App Launching Cryptocurrency Exchange appeared first on Bitcoin News.

SoftBank buys into Line’s mobile service in Japan

 SoftBank is partnering up with messaging app Line to help develop its Line Mobile telecom service. Line announced that it has agreed to allow SoftBank to take a 51 percent in the business via an issuance of new shares. The deal is expected to close by March. From the documents, its mobile business is valued at around $15 million (1.7 billion JPY) but a company spokesperson told TechCrunch… Read More

Chat app Line announces plan for cryptocurrency services, loans and insurance

 Line, the messaging app with around 200 million monthly users, is embracing bitcoin and other cryptocurrencies to fend off increased competition from Facebook and others. The Japanese company told announced the creation of a new financial services division which will spearhead a move into cryptocurrencies and other services including loans and insurance. Line already operates a payment… Read More

Chat app Line is reportedly considering its own cryptocurrency

 Tickets please, the next crypto train is about to depart. Japan-based messaging app Line is said to be the latest public company to consider a move into the blockchain and cryptocurrencies, according to a Bloomberg report. Unlike some of the more obscure and head-scratching moves, which include China’s forgotten social network and an iced tea company, there would be some merit to Line… Read More