By Kelly Cho | Building on the success of its messaging app introduced in 2011, LINE’s diverse offerings now include unique and secure financial services with the July launch of its BITBOX cryptocurrency exchange.
Unlike LINE, which is based in Japan, BITBOX is headquartered in Singapore and offers at least 30 cryptocurrencies – including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin for users around the globe (except in Japan and the US). It also supports 15 languages, excluding Japanese.
“With BITBOX, we intend to have an exchange that is easier to use, while also ensuring we provide extremely strong levels of security,” says LINE CEO Takeshi Idezawa.
With approximately 200 million monthly active users worldwide, LINE has built its reputation as a successful global messaging platform. “This brings credibility to BITBOX as a cryptocurrency exchange, something many of the other players lack,” BITBOX Project Manager Edward Lee says in a recent interview with bitcoinmagazine.com.
He adds that by incorporating LINE’s rich insights into UI and UX design, BITBOX has an intuitive and easy-to-use layout for the exchange platform. BITBOX’s main goals are to provide a user-centered experience and first-rate customer support.
Another major focus of BITBOX is to provide the highest levels of security and transparency. In view of this, LINE is integrating the technology offered by BitGo, the market leader in cryptocurrency security, which launched the first multi-signature wallet in August 2013. Multi-signature, three-key management is an advanced security configuration that ensures the safety of assets by avoiding any single point of failure. The BitGo wallet pairs seamlessly with BitGo’s cold storage (storing Bitcoins offline) custody. Asset transfer is then made simple and secure.
“LINE and BitGo are both leaders in our industry and this partnership with BITBOX is an important step in bringing institutional investors the security, compliance, and custodial solutions they need,” says BitGo CEO Mike Belshe. “Together, BITBOX and BitGo are committed to providing the most secure and reliable user experience in the digital token ecosystem.”
BITBOX is trying to provide a user-friendly service for those who may feel intimidated by the world of cryptocurrency. The launch of BITBOX is more than just a response to the increasing global demand for trading cryptocurrencies – LINE’s long-term goal is to establish itself as a FinTech services leader. bitbox.me | line.me