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Japanese messaging platform Line launches crypto exchange

18 Sep 2019 : 15:07
2 min read

Highly popular messenger platform, Line, is officially launching its own crypto exchange in Japan. Line’s market includes over 80 million users in the country, all of them fully active exchanging texts, images, video and audio. The official communication outlined the following:

LINE is making money more accessible to people around the world by developing and delivering a wide range of financial services unique to LINE. Having anticipated Fintech’s changing user needs and technological background, LINE (through LINE Tech Plus) launched the BITBOX cryptocurrency exchange globally last year. This time around, the company has completed registration as a cryptocurrency exchanger in Japan and launched the BITMAX exchange for the domestic market

According to the announcement, for the moment the platform is allowing users to trade only 5 cryptos, such as LTC, BTC, ETH, XRP and BCH. The exchange will also be available for Android devices via the LINE mobile app.

The main operator of the newest exchange is called LVC Corporation, which is a very important subsidiary already awarded by Japan’s Financial Services Agency. Regarding security, LINE is using the cold wallet provided by BitGo.

Robust security measures ensuring a secure and stable trading service, links with LINE’s mobile money transfer and payment service and easy accessibility from the LINE app are the three most important features underlined by the company.

The user-friendly exchange seems to have an attractive audience, with its blog post affirming the following:

In recent years, Japan has been shifting more and more towards a cashless society. At the same time, technological advances have also generated a bevvy of Fintech services, changing the very way people think about money”.

Michela Silvestri

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