On Wednesday Line app shared its plans to launch a new function. Company wants to allow its 170 million users to trade digital currencies via their app.
Koji Higashi, a Japanese bitcoin entrepreneur, commented on businesses intensions to benefit from trends:
“Cryptocurrency exchanges are making fat profits right now. Mainstream companies such as Line are now trying to take advantage of this growing market.”
Line doesn’t speak much about its plan, but announced that it had applied for a license with Japan’s financial regulator.
Line Pay – an existing wallet service the company already has, lets its users purchase goods and pay for services using money stored in their account.
Insurance and personal loans are some other financial services Line is planning to launch.
These news definately caught the investors’ attention and Line’s stock rose gained 2.6%.