Japan 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
Line 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).”

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.
The 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,”