Naver introduces crypto trading in Japan
Naver Corporation Introduces Crypto Trading in Japan
September 20, 2019
Naver introduces crypto trading in Japan
Naver Corporation Introduces Crypto Trading in Japan
September 20, 2019

Naver Corporation, the company behind LINE, a major messaging application headquartered in South Korea, declared that it will start offering crypto trading services through its messaging app.

Naver’s LINE already has nearly 80 million users, while its payment service channel LINE Pay has 50 million users. The popularity of its platform will be leveraged to move into the crypto landscape, which has become progressively competitive over the years.

It has been reported that according to All Stocks, LVC Corporation — LINE’s blockchain-focused subsidiary — was freshly granted a crypto trading license in Japan on September 6, 2019, permitting it to legally enter the cryptosphere and capitalize on its existing users.

Though LINE reportedly has its own cryptocurrency, LINK, it will be offering services supporting multiple other virtual currencies like Litecoin (LTC)Ether (ETH), Ripple (XRP), and Bitcoin (BTC).

As major corporations like Facebook and Naver enter the crypto space, it is acceptable that virtual currencies will be more widely recognized and utilized among the general public. While Facebook’s announcement on the establishment of Libra grabbed the attention of regulators, politicians, and blockchain projects worldwide, it remains to be seen whether the project will be surviving regulatory scrutiny.

ALSO READ :  LINE Launches Trading Platform Bitmax

For the time being, Naver Corporation is already seeing positive feedback on its announcement, with the price of LINK reportedly rising 45% on that day.

So, according to the Korea Times, Naver is also looking for new partners to further expand its blockchain projects in its Asian market, where it has a strong presence.


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Blockchain in Charity

Blockchain in Charity

Charity is an organization set up to provide help and raise money for those in need. And charitable organizations encounter barriers to success due to a lack of transparency, accountability issues, and limits to the...

Industries to be Disrupted by Blockchain

Industries to be Disrupted by Blockchain

Technologies bring innovation and better opportunities across the globe by transforming the way how businesses work and because of which we listed out industries to be disrupted by Blockchain. Blockchain is one of the...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.