Messaging company Line is expanding into fintech
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Line is betting on a future in fintech, as per a report by The Financial Times.
Japanese-based Line is shifting its focus from messaging to its businesses in fintech, which it plans to be profitable in three years, according to the FT.
“There are challenges to expanding into new areas like fintech and payment,” Line co-CEO Shin Jungho told the FT. “But if users want this and it is an area where we can contribute to improving their lives, we need to take on the challenge even if there are some risks.”
Line has also made headlines in the crypto world. In 2018, the firm launched its own cryptocurrency and a $10 million token fun to invest in blockchain-related projects and initiatives.
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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].
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