Line will try the Digital Currency business

Starting from an instant message, Line is now continuing to expand into the wider business realm. After tested the business of smart devices and music streaming, instant messaging service from Ginseng Affairs is now penetrated the business of digital currency (cryptocurrency).

Line

The first step of the company is to create a new financial company that provides digital currency transactions.

Not only that, this company will also move on insurance and lending services.

It is not disclosed whether the service will prioritize the digital currency as a primary transaction or may use other options. However, for sure, this financial services company will be integrated into the Instant messaging application Line.

Naturally Line decided to extend its business foot into the realm of digital currency, considering Japan is a “sexy” market for the digital currency industry. Users only reached 40 million.

Thus, Line’s move to launch a digital currency transaction service is considered quite observant.

Line have 171 Million Active Users

The Line logo is posted at LINE’s headquarters in Japan, June 2, 2016. The LINE social networking company needs a fresh fund of 918 million dollars to expand the social networking business in the world.

In June 2017, Line accounted for more than 171 million monthly active users in the first quarter of 2017. That number is up 72 percent of the total monthly active users in 2016.

“The four largest markets of the Line in Japan, Taiwan, Indonesia and Thailand, the number of monthly active users has reached more than 171 million.It has increased 20 million users since last year,” said Line Corporation Representative Director & CEO Takeshi Idezawa at Line Conference 2017, Shibuya, Japan, some time ago.

According to 2016 data, Idezawa revealed that in one day, more than 27 billion conversations were sent and received via Line.

“That is, one person can spend 40.2 minutes using Line in our four largest market countries until March 2017,” he explained.

Therefore, Line will reproduce the features in the application. For example, the Line Stamps feature, where users can create stickers with personal photos.

Meanwhile, the number of Line News users jumped 280 percent to more than 150 million active users compared to May last year. “The largest number of partners is in Japan, which is more than 600 media.

During the first quarter of 2017, Line Platform earned a profit of 55.797 billion yen. This figure increased 47 percent over the same period last year.