Line acquires Korean cybersecurity firm GrayHash to aid fintech growth
LINE Plus Corporation has acquired cybersecurity firm GrayHash in a bid to enhance its fintech security.
GrayHash is a Korean online security research centre which specialises in “offensive research” and counter hacking techniques.
Through the acquisition, GrayHash has been renamed GrabLab and it will work to develop and optimise security solutions for LINE’s services.
LINE Plus Corporation — a subsidiary of Japanese messaging platform LINE Corporation — offers a range of different services such as messenger, fintech, AI, blockchain and digital asset exchange.
Security has become a growing focus for Line since it launched its own crypto token and blockchain in August.
In September, the firm also announced that it would expand its fintech business after raising around US$1.33bn through convertible bonds.
As part of the acquisition, SeungJin Lee, CEO and co-founder of GrayHash, will continue as lead of GrayLab.