The main application of Japanese social messaging LINE has announced today, January 31, that it launches its own crypto and in-app exchange According to LINE's official statement today, their application to operate a new cryptocurrency exchange is currently sitting in front of Japanese regulators.

Japan started to set up a licensing system. for cryptocurrency exchanges in 2017. The government has approved over twenty exchanges joining what has become a popular industry, involving several large companies.

In its official statement, LINE announces the creation of a new company, LINE Financial Corporation, to serve as a base for " providing a variety of financial services, including a place to exchange and process virtual currencies, loans and insurance . " [1945900] 3]

The exchange of cryptocurrency in the application will complete the mobile payment service integrated with LINE, LINE Pay, which currently has about 40 million registered users .

In addition, the platform aims to promote the research and development of technologies such as blockchain, "but did not specify how this would take shape.

After the Japanese crypto exchange 530 million dollars last week, experts warned that the medium-term image, cryptocurrency may be tainted by public opinion, what the Well Known Brands as LINE Could Mitigate.

Japan has sought to distance itself from more restrictive positions on the use of cryptocurrency by neighboring China and South Korea this year and the last.