Post «Chat app Line announces plan for cryptocurrency services, loans and insurance» in blog Прогноз погоды

People

John Smith

John Smith, 49

Joined: 28 January 2014

Interests: No data

Jonnathan Coleman

Jonnathan Coleman, 32

Joined: 18 June 2014

About myself: You may say I'm a dreamer

Interests: Snowboarding, Cycling, Beer

Andrey II

Andrey II, 41

Joined: 08 January 2014

Interests: No data

David

David

Joined: 05 August 2014

Interests: No data

David Markham

David Markham, 65

Joined: 13 November 2014

Interests: No data

Michelle Li

Michelle Li, 41

Joined: 13 August 2014

Interests: No data

Max Almenas

Max Almenas, 53

Joined: 10 August 2014

Interests: No data

29Jan

29Jan, 32

Joined: 29 January 2014

Interests: No data

s82 s82

s82 s82, 26

Joined: 16 April 2014

Interests: No data

Wicca

Wicca, 37

Joined: 18 June 2014

Interests: No data

Phebe Paul

Phebe Paul, 27

Joined: 08 September 2014

Interests: No data

Артем Ступаков

Артем Ступаков, 93

Joined: 29 January 2014

About myself: Радуюсь жизни!

Interests: No data

sergei jkovlev

sergei jkovlev, 59

Joined: 03 November 2019

Interests: музыка, кино, автомобили

Алексей Гено

Алексей Гено, 8

Joined: 25 June 2015

About myself: Хай

Interests: Интерес1daasdfasf, http://apple.com

technetonlines

technetonlines

Joined: 24 January 2019

Interests: No data



Chat app Line announces plan for cryptocurrency services, loans and insurance

04:55 | 31 January expand

Chat app Line announces plan for cryptocurrency services, loans and insurance

Line, the messaging app with around 200 million monthly users, is embracing bitcoin and other cryptocurrencies to fend off increased competition from Facebook and others.

The Japanese company today announced the creation of a new financial services division which will spearhead a move into cryptocurrencies and other services including loans and insurance.

Line already operates a payment service — which claims 40 million users $4 billion in annual GMV — but now it plans to do much more.

Line said it has applied for a cryptocurrency license in Japan — where more than a dozen exchange and other businesses have been approved — which is currently under review.

Bloomberg reported earlier this month that Line was considering a move into crypto, but at this point it isn’t clear exactly what that will entail. From the announcement, Line said it will operate a marketplace inside its app where people can trade crypto and get loans or insurance. It said, too, that it will look into how it can use blockchain technology within its services.

Loans and insurance, while not as attention-grabbing as crypto, may prove to be lucrative ventures in markets where Line has strong recognition among consumers.

The company is need of something fresh to revitalize its business in the wake of increasing competition from Facebook, which operates WhatsApp and Messenger, the world’s most popular messaging apps with over one billion monthly users each.

Prior its $1.1 billion U.S.-Japan IPO in 2016, Line had targeted a global audience via its messaging service — which pioneered the concept of stickers — and a connected games business. Its international expansion didn’t go according to plan, however, and the company refocused efforts on its four core markets of Japan, Thailand, Taiwan and Indonesia, which account for 168 million of its active users.

In those markets, it offers a range of localized services that include video streaming, manga cartoons, shopping, ride-hailing and other on-demand services. Last year, it began to sell smart hardware and AI to offer its own cartoony alternative to Amazon’s Echo range and Google Home devices. In some markets, it also offers a Line-branded mobile phone/data service.

There’s plenty of pressure, however. Facebook’s global popularity makes Messenger an option for most internet users on the planet while the company is busy in other areas. WhatsApp recently moved into business solutions that allow companies to correspond with users via its service, and it is tipped to add payments soon. CEO Mark Zuckerberg has also pledged to look into whether Facebook can make use of blockchain technology.

Line will hope these new services can boost its business in its strongest markets and pick up new users in other countries.

Line might well be the largest consumer-focused business to adopt crypto to date. It is far from the only chat app, though. Kik raised $100 million in an ICO earlier this year, while there are also newer blockchain-based solutions such as Status. Then there’s Telegram, a chat app that has over 150 million users and is popular among the crypto community, which is planning a much-anticipated ICO that could raise upwards of $1.2 billion.

Line’s announcement comes as the price of bitcoin dropped below $10,000 for the first time since the end of November, according to Coindesk’s price tracking service.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

 


Read more→

Posted on 31.01.2018 04:55

Comments

To show the previous comments (%s from %s)
Show new comments

Last comments

Walmart retreats from its UK Asda business to hone its focus on competing with Amazon
Peter Short
Good luck
Peter Short

Evolve Foundation launches a $100 million fund to find startups working to relieve human suffering
Peter Short
Money will give hope
Peter Short

Boeing will build DARPA’s XS-1 experimental spaceplane
Peter Short
Great
Peter Short

Is a “robot tax” really an “innovation penalty”?
Peter Short
It need to be taxed also any organic substance ie food than is used as a calorie transfer needs tax…
Peter Short

Twitter Is Testing A Dedicated GIF Button On Mobile
Peter Short
Sounds great Facebook got a button a few years ago
Then it disappeared Twitter needs a bottom maybe…
Peter Short

Apple’s Next iPhone Rumored To Debut On September 9th
Peter Short
Looks like a nice cycle of a round year;)
Peter Short

AncestryDNA And Google’s Calico Team Up To Study Genetic Longevity
Peter Short
I'm still fascinated by DNA though I favour pure chemistry what could be
Offered is for future gen…
Peter Short

U.K. Push For Better Broadband For Startups
Verg Matthews
There has to an email option icon to send to the clowns in MTNL ... the govt of India's service pro…
Verg Matthews

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short


Site search