LINE is one of the most popular social media applications in Asia, being the leading app in Japan and widely used in Taiwan, Thailand, Turkmenistan and Indonesia. At the end of 2014, they announced the creation of LINE Pay, which enables its users to buy things on the internet and to send money to their contacts among other features. Now, a subsidiary of the social media company is getting a license to operate as a cryptocurrency exchange.
The move is not unusual, earlier this year, Facebook have announced its own digital coin, Libra, and Telegram went the same way with the “Gram”. In general, it is a great cenario for cryptocurrencies, since these social media companies have millions of users, their adoption brings high liquidity for the crypto market.