Japanese Messaging Program Line to Launch Cryptocurrency Exchange

Japan-based and very popular messaging application Line announced that they have applied to establish a crypto money exchange.

Many countries around the world are strict on crypto currency exchanges. And while you bring strict controls, it’s not quite like that in Japan.. Unlike its neighbors South Korea and China, Japan has a supportive attitude towards cryptocurrencies, and popular institutions in the country have started to take decisions in this direction.. In addition to Japan-based institutions, many South Korea and China-based companies are almost competing with each other to operate in the country.

Finally, Line, a very popular messaging program in the country, With a statement, he shared with the public that an application was made to establish a crypto money exchange within the application.

An Interesting Initiative

While this move of Line was interpreted as interesting by crypto money circles, in fact this application The decision to use its potential here was perceived as a positive signal for both themselves and the cryptocurrency markets.. Line, which has more than 200 million members in total, also has an in-app mobile payment tool called Line Pay. It is stated as >40 million .

In Line Pay’s data published last year, it was stated that in-app payment amounts were around $4 billion in 2017.. With the contribution of this money, it is stated that the managers of the Line application want to open a crypto money exchange and bring a live broadcast feature. it wouldn’t be a surprise. In fact, Coinbase, which is shown as the most popular cryptocurrency exchange, has a total of 13 millionusers.

The main thing for the company to put this business into practice is the number of members. Although there are many, the event does not end there.. While it is stated that the vast majority of Line’s user portfolio loves and likes the application, it is a data from the past that users are very generous in using the innovations brought by the application and paying for them.

To open the cryptocurrency exchange, a professional team company announcing that it will receive assistance; already in close contact with many Blockchain experts and market analysts. The most basic goal of the company managers in the future, who stated that they embarked on such a business to meet the needs brought by the paperless trade and life trend that the world has entered recently, is to be the world leader in this field.

in Japan. Interest in Cryptocurrency is Great

Japan is slowly becoming a hub for cryptocurrency trading. With government policies supporting the use of cryptocurrencies, Japan has managed to attract the attention of many centers.. The fact that there is an increased desire in this direction in the public is confirmed by the news sources in the country.. So much so that, despite the recent Coincheck hack, the general cryptocurrency situation in the country is progressing positively.. Although Coincheck said that it will return $435 million of the lost $530 million, Japanese authorities have almost scalded the famous cryptocurrency exchange on the subject. Japanese authorities, which stipulate that Coincheck will introduce new security rules, aim to provide a safer and more peaceful crypto currency trading opportunity by this means. have extremely positive thoughts about cryptocurrencies. While the use of cryptocurrencies is openly encouraged in the country, the recent exchange of cryptocurrencies and technological products is one of the moves that confirms this policy.

According to successful analysts in the field, These policies of the Japanese government will benefit the country greatly in the future.. The increase in economic input in the short, medium and long term and thus providing employment in the country are seen as the biggest pluses.. According to the Japanese strategist Yashiyuki Suimon, speaking on the subject, this is prone to huge gains for the Japanese economy:

“The most important thing in parallel with the increase in the value of the products is that the consumer also an increase in the price he spends on products, which we call the wealth effect. We aim to increase the total amount of economy spent and created up to 80 billion yen by making such an incentive at the point of cryptocurrencies that have just taken their new steps.”

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