February 22, 2024

LINE messaging app officially launches stock exchange in Japan

Messaging app LINE has officially announced the launch of a cryptocurrency exchange service for its80 million users from Japan.

BITMAX exchange launch

The announcement comes days after the platform received final regulatory approval.The new exchange, dubbed BITMAX, now trades five crypto assets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). 

BITMAX is available to residents of Japan with a LINE account. There is no commission for trading, but for deposits and withdrawals, the fee is 108 yen. ($ 1)

Access to the server on Android can be obtained throughwallet tab in the LINE mobile application and integrate with LINE Pay to simplify the process of entering Japanese yen into fiat. Also, users can register their account in the application using an identification card and a photograph, a registered bank account and ID.

  • Currently, LINE has 81 million monthly active users in Japan and 164 million worldwide.