Days after obtaining a license to operate a crypto-exchange, LVC Corporation, the digital asset and blockchain-dedicated arm of Japanese messaging giant LINE dubbed BITMAX, has launched its services on 17 September. This would be LINEâ€™s second crypto-platform after Bitbox.
BITMAXâ€™s tweet announcing the same read,
â€œStarting today, LINEâ€™s virtual currency transaction service â€œBITMAXâ€ will be available on Android. In the future, we will send various information via Twitter about BITMAXâ€
According to the official announcement, the virtual currency trading platform can be accessed from the â€œLINE Walletâ€ tab on â€œLINEâ€. BITMAXâ€™s top priority will be to deal with the top five cryptocurrencies namely, Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash [BCH]. Notably, this platform will allow LINEâ€™s over 80 million users in Japan to trade cryptocurrencies, including Bitcoin and the giantâ€™s own token, LINK.
The blog post read,
â€œService Type: A sales point service that allows you to buy and sell virtual currency in legal currencyâ€
To apply for the opening of a BITMAX account, a user must have a LINE account and should be between 20-75 years old and should be a Japanese resident.
In 2018, the firm that started off as a messaging app, launched its native cryptocurrency, LINK. Since then, it has continued to develop a token ecosystem based on its service-oriented blockchain, Link Chain.
Additionally, LINE Pay, its digital wallet, had collaborated with Visa in a bid to build new financial services for its customers, which includes blockchain-based solutions, cross-border payments, and â€œalternative currency payments.â€