A license to conduct cryptocurrency business in Japan has been approved for the country’s messaging giant, LINE. Japanese LINE messaging app receives crypto exchange license.
It will now be able to offer crypto exchange services in Japan, which it will do so, according to the company, under the name BITBOX. The company will be able to provide its cryptocurrency trading services to 80 million users who are currently active on a monthly basis.
LVC has now included in the FSA’s official registry of virtual currency exchange service providers, as per their website. LVC Corp. oversees LINE’s digital asset and blockchain business units.
LINE intends to list LINK tokens solely on its cryptocurrency exchange, BITBOX, which opened in July in Singapore (paywall), to build a “token economy”.
Japanese LINE messaging app receives crypto exchange license. The company has been operating since July 2008, and it will not be available in Japan and some parts of the United States as part of LINE’s efforts to develop and deliver a wide variety of financial services to make money more accessible to people around the world.
The company is now preparing to launch its cryptocurrency exchange which will put customer safety and security at the forefront.
The exchange supports:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
Rakuten Wallet has recently permitted as a cryptocurrency Exchange. There are about 20 crypto exchanges in Japan, including LINE, as well as Rakuten Wallet.