On September 17, 11 days after being awarded a cryptocurrency license by Japan’s Financial Services Agency, LVC Corporation (LVC), a subsidiary of popular Japanese messenger platform LINE that operates LINE’s crypto and blockchain-related businesses, has announced the launch of BITMAX crypto exchange.
BITMAX is described as a “simple and secure cryptocurrency exchange that makes getting started for beginners easy,” and now supports five cryptocurrencies including XRP, Bitcoin and Litecoin.
The mobile-supported crypto exchange is being launched with the objective of increasing the accessibility of diverse assets, “developing and delivering a wide range of unique financial services.” BITMAX will specifically serve the Japanese market and is being rolled out in stages, with the first one launched today at 3 pm (GMT+9) on Line’s Android apps.
The popular Japanese messenger LINE, with more than 80 million monthly active users, will now provide cryptocurrency exchange services to their broad customer base.
BITMAX will be available via a wallet tab on the social media’s app but will operate independently from BITBOX, a full-fledged cryptocurrency exchange that was launched in 2018. BITBOX serves the global market excluding Japan and the US, and is operated by LINE Tech Plus PTE.