Crypto.com and LINE Xenesis Join Hands to Drive Crypto Innovation in Asia

Crypto.com and LINE Xenesis, the blockchain arm of messaging app Line, have joined forces to strengthen their presence in the Asia Pacific region and the global crypto industry.

In a recent announcement, Crypto.com revealed a Memorandum of Understanding (MoU) with LINE Xenesis Corporation. The collaboration is expected to leverage Crypto.com’s tailored business solutions, enabling it to reach Line’s extensive 200 million monthly active users network.

As they forge ahead, the two entities plan to delve deeper into various crypto and blockchain technology business solutions, particularly enhancing cryptocurrency payment capabilities and integrating Non-Fungible Tokens (NFTs).

LINE Corporation has been actively exploring blockchain-based applications since the establishment of the LINE Blockchain Lab in April 2018. This effort has led to the development of the Finschia blockchain and its native token FNSA. 

LINE has successfully launched LINE Bitmax, its licensed crypto exchange, and LINE NFT, a non-fungible token marketplace. As the partnership progresses, the two companies combined expertise and resources are expected to play a pivotal role in advancing crypto technology and fostering its adoption in Japan and beyond, making strides toward a more integrated and innovative crypto ecosystem. 

Both entities will pool their resources to enhance the liquidity of LINE Bitmax, the licensed crypto exchange, while also focusing on bolstering crypto payment capabilities and promoting Non-Fungible Token (NFT) initiatives. 

Founded in 2016, Crypto.com has rapidly expanded its services worldwide, earning the trust of over 80 million customers. The company has emerged as a leader in regulatory compliance, security, and privacy within the crypto industry. 

Crypto.com has obtained virtual asset service provider registration from the Bank of Spain and a major payment institution (MPI) license from the Monetary Authority of Singapore. However, amidst its successful international endeavors, the company recently halted its institutional offering in the United States, citing insufficient demand as the reason for this strategic decision.

“We are excited to partner with such an established and innovative brand in the APAC market and a leader in blockchain technology development in Japan. Enabling real-world utility is critical to our mission of mainstreaming crypto. Through our collaboration with LINE Xenesis, we will facilitate this utility by leveraging our respective expertise with a highly tech-savvy base throughout the APAC region,” Crypto.com CEO Eric Anziani stated in a recent release.

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