Japan’s Chat Giant Line Acquires GrayHash To Enhance Security Of Blockchain Services

Line Plus, the subsidiary of Japan-based chat giant Line, has acquired online security research center GrayHash for an undisclosed amount.

GrayHash is an offensive research-oriented corporation founded by a group of entrepreneurs, who have had a long history of experience in the field of security, successfully running international hacking contests, international hacking competitions and conferences. Its major customers are IT, electronics, games, messenger and mobile companies.

Line Plus said that the acquisition of GrayHash will allow them to step up the development of optimized security solutions for its messenger and FinTech services. GrayHash, which will be renamed as “GrayLab,” will focus on developing security solutions in areas such as artificial intelligence (AI), blockchain, and digital currency exchange.

Seung Jin Lee, GrayHash CEO and co-founder, will continue as lead of GrayLab. Lee said that: “We will continue to strengthen the security level and capability of LINE service by taking security measures based on the insight, technology, etc.”

Last month, Line announced that that it would establish a joint blockchain venture with Japan’s Mizho Financial Group to provide a variety of convenient financial services, including smartphone banking apps.

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