August 11, 2020

LINE messaging app officially launches stock exchange in Japan

The LINE messaging app has officially announced the launch of a cryptocurrency exchange service for its 80 million users from Japan.

BITMAX exchange launch

The announcement was made a few days laterafter the platform has received final regulatory approval. The new exchange, called 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.

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