Naver’s Line to Launch Global Cryptocurrency Exchange in July

Messaging app firm Line Corporation, a Japanese subsidiary of the South Korean internet search giant Naver Corporation, has announced plans to launch its cryptocurrency exchange Bitbox in July.

At “Line Conference 2018” held in Maihama of Chiba Prefecture, Japan, on June 28, the company said, “We are planning to allow users around the globe, except Japan and the U.S., to trade 30 or more cryptocurrencies, including Bitcoin and Ethereum.” Bitbox will be available in 15 languages and charge a 0.1 percent trading fee.

Bitbox will pick the coins following an extensive screening process which sees an internal commitment asses what on the market represents the most reliable and safest trading options for users. In addition, Line plans to secure the safety based on its competence in data protection technology gained through its messaging app service.

Line CEO Takeshi Idezawa said, “Since Bitbox has been developed as part of plans to expand our new financial services, we will provide services that can help users access cryptocurrencies more easily. We will build a comprehensive security system in order to secure users’ valuable assets.