Japan’s LINE opens new domestic crypto exchange BITMAX

LVC Corporation (LVC), a subsidiary of Japan digital technology company LINE Corporation (LINE), and operator of LINE’s cryptocurrency and blockchain-related businesses, announced today that BITMAX, a cryptocurrency exchange for the Japanese market, has gone live.

BITMAX services will be made available in stages from 3 pm (GMT+9) on September 17, 2019 (available first on Android).

Available through the Wallet tab on the LINE app—used by 81 million users in Japan alone, BITMAX is a simple and secure cryptocurrency exchange that makes getting started for beginners easy.

The BITMAX exchange will allow users to trade five types of cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).

BITMAX is a separate service from the BITBOX cryptocurrency exchange launched last year, the latter of which is already available for global markets (excluding Japan and the US).

LINE Ecosystem

LINE aims to make money more accessible to people around the world by developing and delivering a wide range of financial services unique to LINE.

As part of these efforts, the company’s Singapore-based subsidiary LINE Tech Plus PTE. LTD. has been operating the BITBOX cryptocurrency exchange since July 2018. In the leadup to BITMAX’s launch, LVC officially became a registered cryptocurrency exchanger last week under Japan’s Payment Services Act.

Last year, LINE itself unveiled its LINE Token Economy concept, which will use the company’s proprietary blockchain network LINK Chain in building an ecosystem that fosters a co-creative relationship between users and service providers.