Japanese Line launches its cryptocurrency trading platform in Japan

Instant communications app and Japan’s most prominent social network Line is officially launching in cryptocurrency trading platform in Japan, called BitMax, according to a report published on Sep 17.

The messaging giant’s virtual currency and blockchain-focused entity, LVC corporation, was in discussions with the Japanese Financial Services Agency since June to grant its eighty million users nationwide an opportunity to trade cryptocurrencies. Earlier this month, this opportunity was given and enabled Line to operate its cryptocurrency exchange featuring leading cryptocurrencies.

The eagerly-awaited trading platform BitMax will feature trading of Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. Its grand network of users can now gain access to its trading platform through Line Wallet.

Line’s cryptocurrency trading platform in Japan invites all users

To get a taste of what BitMax trading platform offers, LINE is welcoming first-time traders and new users to carry out transactions are little as ten dollars ($10).

While the newly-launched cryptocurrency trading platform in Japan is second only to Line’s Singapore exchange called BitBox, launched in 2018, the announcement leaves no room for doubt by stating that the size and scope for both exchanges vary significantly. While BitBox caters to a global audience, excluding the US and Japan, BitMax is meant only for users in Japan. 

Meanwhile, Line’s association with digital currency and blockchain space has been long-known. While it dedicated last year to launch its native token Link and the token-powered blockchain platform, Link Chain, this year, it announced its massive-scale partnership with global payments processor, Visa, for developing blockchain-based payment solutions.