BITBOX Digital Token Exchange Begins Operations

2018.07.17 Corporate Announcement

● As a “Social Digital Token Exchange,” BITBOX emphasizes user-experience and comprehensive support

● BITBOX teaming up with BitGo to offer highest levels of security and transparency

● Special offers highlight BITBOX launch 

TOKYO – July 16, 2018 – LINE Corporation today began operations of BITBOX (www.bitbox.me), its cryptocurrency exchange based in Singapore. BITBOX emphasizes a user-centered experience and first-rate customer support, as well as the highest levels of security and transparency.

 

 

 [Disclaimer: Images are for illustrative purpose only. Prices and other details are not actual.]

 

As a “user-centered exchange”, BITBOX brings LINE’s rich experience with UI and UX design to the exchange platform, creating an intuitive layout that is easier to use, while also offering service in 15 languages.

“LINE has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange,” said LINE CEO Takeshi Idezawa. “With BITBOX, we intend to have an exchange that is easier to use, while also ensuring we provide extremely strong levels of security.”

For the launch of BITBOX, we are offering a couple of special benefits to our users. The first 2 million customers who register at BITBOX will receive a reward equivalent to US$10 in August which can be used in the exchange. In addition, during the first month of BITBOX operations, registered users will be able to trade assets with zero trading fees for all the listed coins in the exchange.

 

A Focus on Security and Transparency

LINE has a long-established reputation for cybersecurity and technological expertise, which it has brought to BITBOX. Security and risk management procedures have been designed to protect users’ interests and to ensure the safe management of their assets.

Fair and transparent operations are also very important for a digital token exchange, so BITBOX is committed to building and maintaining user trust. That extends to the listing process for digital tokens, as all tokens added to the exchange must go through a very rigorous evaluation process by BITBOX’s screening committee. 

 

Teaming With BitGo to Protect User Assets 

As part of BITBOX’s focus on providing high levels of security, we are also integrating the multi-signature technology offered by BitGo, the market leader in institutional-grade cryptocurrency security. The BitGo wallet is the only institutional-grade, multi-signature, multi-coin hot wallet. Multi-signature, three-key management removes any single point of failure, and advanced security configurations ensure that assets are secure as they move in and out of the wallet. The BitGo wallet pairs seamlessly with BitGo’s cold storage custody making asset transfer 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,” said BitGo CEO Mike Belshe. “LINE has an established history of success in the global market. Together BITBOX and BitGo are committed to providing the most secure and reliable user experience in the digital token ecosystem.” 

 

Announced at LINE Conference 2018 in Tokyo in June, BITBOX allows trading in approximately 30 digital tokens for users around the globe (except in Japan, the United States, and certain restricted territories).

BITBOX is operated by LINE Tech Plus, a Singapore-based company under both LVC Corporation and LINE Corporation. The launch of BITBOX is part of a wide range of finance-related initiatives from LINE as it seeks to become a leader in the fintech business.

 

■ BITBOX Overview

● Service type: Cryptocurrency-to-cryptocurrency exchange (no fiat currency trading available)

● Opening: July 16, 2018

● Available regions: Global (except Japan and the United States)

● Available languages: 15 (including English, Korean, and Chinese)

● Coins traded: Around 30 (including BTC, ETH, BCH, and LTC)

● Official channels:

   - LINE Official Account: @bitbox

   - Telegram: @bitbox_official, @bitboxkorean, @bitboxchinese

   - Twitter: @bitbox_official

   - Facebook Page: fb.com/bitbox.official/

 

About LINE Corporation

Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more. 

 

Media Inquiries

LINE Global PR: dl_gpr@linecorp.com