Line Introduces Bitmax to Serve Crypto Trading in Japan

Asia Blockchain Review
September 25, 2019
Line Introduces Bitmax to Serve Crypto Trading in Japan

Major Asian tech giant Line has launched a new cryptocurrency trading platform geared specifically to users in Japan.

According to Cointelegraph, the widely-used Japanese messaging app provider opened up Bitmax on September 17, 2019.

Tailored to Regulatory Requirements in Japan


Line, which already operates the digital assets and money exchange Bitbox, explained in its announcement of Bitmax that the new service was designed especially to comply with tight regulations in Japan.  

Bitbox has been operating from Singapore since July 2018 and is accessible around the world except in the United States and Japan, for which the platform does not hold a license to operate.

Bitmax Targeted at Encouraging New Crypto Traders

Developed by LVC Corporation, the blockchain arm of Line, Bitmax was developed to receive approval from Japanese regulators. The exchange was launched with five coins available for trade: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC). It does not feature Line’s own cryptocurrency Link.

Now in compliance with Japan’s unique crypto trading rules, LVC and Line are looking to use Bitmax to attract new traders. Line maintains 81 million users in the country and is to offer them the ability to start trading for as little as under 1,000 Yen or around US$9. The exchange is directly linked to Line via its Line Pay service, which enables users to make deposits and withdrawals, and Line Wallet, which serves as a direct gateway to Bitmax.

Line is currently working with payment firm Visa to produce further blockchain powered payment services.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Covid-19 is A Wake Up Call: Infinity Blockchain Labs Taiwan Explains
    Get more insights on the bandwagon of adapting towards the future technology of transparency to trac...

    May 29, 2020

    Transparency and Traceability of the Future Technology
    ABR recently had a chat with Steve Nam, the Managing Director of WOWTRACE on authenticity and transp...

    May 29, 2020

    C-LOG Is Charting Its Own Course Ahead
    We recently sat down with Kristina Lynge, CEO & Founder, C-LOG for a conversation on things so far. ...

    May 28, 2020

    MAHSA University on Blockchain: Exclusive Interview with Dr Saad Musbah
    ABR recently spoke to the Head of Student Central and Senior Lecturer at MAHSA University, Dr. Saad ...

    May 27, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us