Line raises USD 1.3 bln via convertible bonds for money businesses

Thursday 6 September 2018 13:43 CET | News

Japan-based Line has raised around USD 1.33 billion (JPY 148.1 billion) through convertible bonds to fund its expansion in the financial services business.

The company has planned to spend the the money raised on promoting LINE Pay and other new financial services by the end of 2021.

LINE Pay allows users to send money to one another using the chat application, as well as to make offline payments at stores.

The company is planning to launch a set of new financial services and it has also set up a Singapore-based cryptocurrency exchange BITBOX, though it has not obtained regulatory approval in Japan to run a crypto exchange.

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Keywords: Line, Japan, convertible bonds, financial service, Line Pay, BITBOX, online payments
Countries: World

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