Singapore Based Line Corp Establishes Crypto Exchange with BITBOX

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Line Corp, a Japanese telecom giant based in Singapore has established a cryptocurrency exchange business together with BITBOX.

It promises to offer

“user-centered experience with intuitive design, and enhanced customer support.” Available in 15 languages, the exchange has the objective of attracting more mainstream investors into the crypto market.

At the moment, BITBOX facilitates crypto trading with over 30 coins which include bitcoin, ethereum, Ripple, Litecoin and bitcoin cash. Its offering is strictly crypto-to-crypto and there are no provisions yet for fiat trading.

Takeshi Idezawa, the Line Corp CEO said the following with regard to the move:

“

Line has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange.”

From Messaging to Crypto

Highly famed for its popular chat app, featuring colorful stickers and expressive emojis, Line is now venturing into fintech and AI services with a focus on security.

Currently boasting more than 200 active users on its messaging app, the company has in the recent past expanded into mobile payments, taxis on-demand and music streaming.

“

With BITBOX, we intend to have an exchange that is easy to use, while also ensuring we provide an extremely strong level of security”, Idezawa added.

The new exchange platform is hinged on a collaborative agreement with BitGo, a US-based blockchain security company.

BitGo’s multi-coin crypto wallet offers a multi-layered security approach with three-key management, a multi-signature login feature and cold storage facilities. Such measures are meant to allay investor fears associated with crypto exchange hacks.

A Line Corp representative however stated that there were no plans to integrate BITBOX into the messaging platform, at least not at present.

The first two million customers who register accounts on the new exchange will get $10 dollars for trading purposes.