Japan's largest messaging app Line is planning to launch a cryptocurrency alternate

Japanese temple

Japanese temple

The cryptocurrency will be incorporated into the existing LINE in-app mobile payment service. After initially struggling to maintain investor enthusiasm, strong sales of advertising space on its messaging app have seen its stock gain nearly 60 percent from its IPO price.

Line announced on January 31 that it has established financial service subsidiary "Line Financial" capitalized at 500 million yen (US$4.57 million or 49.1 billion won) in Japan. Russian rival messaging platform Telegram with 150 million users is also looking towards a record breaking ICO to launch its own cryptocurrency and Facebook are sniffing around blockchain solutions of their own.

But this is not the whole story, the intention is to also invest, promote and research in blockchain technology.

Cleveland Indians will remove Chief Wahoo logo from uniforms
Advocacy groups have long pushed for the logo to be banned and had requested meetings with Manfred to talk about the issue. Many are also in opposition to the team being nicknamed the Indians at all.

In 2017, Line Pay achieved major growth, with its global annual transaction volume exceeding JPY 450 billion and reaching 40 million registered users.

Japan's Financial Services Agency, which oversees registrations of new exchanges, said on Monday it would investigate all cryptocurrency exchanges in Japan for security gaps after the hack at the Coincheck exchange. The company will provide, to more than 200 million users, a new and unique experience related to cryptocurrencies and its interesting market.

The new company, dubbed Line Financial Corporation, will provide a platform to transact and exchange digital currencies, insurance and loans, a company release states. This is a huge number, taking into account that one of the leading cryptocurrency exchanges, Coinbase, has nearly 13 million users. Although not being widely used in Europe and the United States, Line Pay is one of the most popular apps in Japan and other Asian countries.

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