Japan’s most popular messaging app Line will soon provide its users the option to exchange and transact virtual currencies, loans and insurance. The company launched a new division called Line Financial Corporation and has applied for a license with Japan’s Financial Services Agency, according to the company statement. This announcement comes on the heels of news that more than $500 million worth of alternative cryptocurrency NEM was stolen from a Japanese exchange called Coincheck in a possible hack. Line already offers a payment service called Line Pay, which has 40 million users and global transactions that reached about $4 billion last year. In comparison, one of the world’s largest crypto exchanges Coinbase has about 13 million users.

Source: Forbes February 01, 2018 04:07 UTC