Line Launches Singapore-Based Cryptocurrency Exchange

Line, a Japanese messaging app with 200 million monthly active users in Asia, is entering the cryptocurrency market by launching a Singapore-based exchange called Bitbox. The platform will enable trading in more than 30 currencies, including Bitcoin, Ethereum, and Litecoin.

The exchange will be available in 15 languages at launch but will not initially offer services in Japan or the US due to ongoing regulatory challenges. This move comes as other messaging app companies, such as Telegram and Kik, have already ventured into the cryptocurrency space.