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Line Corp a popular messaging service company to launch cryptocurrency services

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Line Corp starts cryptocurrency service
Source: Line.me

Line Corp., the popular messaging service based in Japan is planning to add digital currency exchange services to its list of services which will include Bitcoin and other cryptocurrencies.  Line already offers a money transfer and payment service called Line Pay and the new service will be called Line Financial.

Line Financial will be used to provide financial services including a cryptocurrency exchange, loans and insurance from the Line app itself. The app already has a huge market cap in the money transfer sector. Line has been transferring more than 450 billion yen ($4.1 billion) annually, with more than 40 million registered users.

Charlie Rockwalt, a Financial Advisor from San Fransico, says,

“The recent technology changes that the blockchain has experienced is a good signal for the growth of the virtual currencies, unfortunately, the negative news related to them have been overpowering all these changes, Bitcoin and the pack has suffered”

Bitcoin is currently trading at under $10K with a slump of 10% in the past 24 hours and currently has a market cap worth $168 billion. Bitcoin is struggling to maintain itself at a decent value relative to the value it had back in December of 2017 because of regulatory actions from multiple countries, news related to the alleged subpoena of Bitfinex and the Coincheck hack in Japan.

Akira Yamamoto, a cryptocurrency investor from Osaka, says,



“Line’s new service will be popular in the financial world and I think like Japan, once the world understands the importance of cryptocurrencies to the GDP of the country, everyone will follow suit”

Crypto-currencies have found a place for themselves in the Japanese culture. Bitcoin has gained huge popularity in Japan. Yamada Denki was the other story which broke out last week.

Yamada Denki, one of the biggest consumer electronics chain of Japan is partnering with BitFlyer to conduct a trial run in two stores. The chain will be accepting Bitcoins as payments in two stores located in Tokyo for the trial period.





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A full-time member of AMBCrypto's reporting team since December 2017, Dhruv writes about blockchain and cryptocurrency. Dhruv graduated from University of Delhi with a major in Mathematics. He currently does not hold any position in any cryptocurrencies or projects.

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Bitcoin

Bitcoin [BTC]: Fidelity has a ‘room full of ASIC miners’ at its Texas office, claims Justin Moon

Yash Rajan

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Bitcoin [BTC]: Fidelity has a 'room full of ASIC miners' at its Texas office, claims Justin Moon
Source: Pixabay

Bitcoin [BTC] had become the center of discussion in the crypto-verse after its meteoric rise recently. BTC is considered to be the digital gold with huge growth potential. As the interminable discussions continued for a long time, individuals associated with this discourse exhibited legitimate reasons both ‘for’ and ‘against’ the validity and acknowledgment of digital forms of money.

Enthusiasts around the globe believed that the big names of the market and hotshots in the corporate space were complacent about BTC. As Bitcoin is increasingly gaining recognition on a daily basis, Fidelity has emerged as the newest member to validate and diffuse BTC in its business operations.

Fidelity Investments, the multinational financial services corporation based in Boston, USA, offered services encircling investing, brokerage and retirement plans.

According to Bitcoin developer Justin Moon, Fidelity Investments has been interested in Bitcoin for a long time. He tweeted,

“Fidelity has a room full of Bitcoin Miners [ASICs] at their Texas office.”

This tweet, from a broader perspective, pointed at the interest of big wagons in the market in BTC mining. Apart from this, it also showed that they were actively participating in public blockchains.



This is not the first instance where Fidelity has openly accepted its interest in cryptocurrencies. Ari Paul, founder and chief investment officer of BlockTower Capital, had tweeted earlier this year,

A majority of Fidelity’s clients seems to believe that digital assets are the next big thing in the economy and the debate has been going on for a while. However, Fidelity’s statement rested the speculations of BTC being adopted by big league members. In other adoption news, three days ago, AT&T announced that it would start accepting payments in Bitcoin for its services.





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