The popular Japanese messenger Line has closed the BitBox exchange in Singapore. Instead, a new one began operating in the USABitFront's global cryptocurrency trading platform, reports The Block.
BitFront is operated by LVC USA, a subsidiary of LVC Corporation, which oversees Line's cryptocurrency business.
A company spokesman said that BitBox was shut down immediately after receiving a license to conduct exchange operations in the United States. What regulatory authority issued it, he did not specify.
However, BitFront is currently not available to residents of New York, Hawaii, and Nevada.
The platform supports the trading of five coins, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT) and its own stablecoin Line - Link.
Messenger launched BitBox exchange in Singaporein the summer of 2018. The platform supported 15 languages and was available to users around the world, with the exception of residents of the United States and Japan. The launch of BitFront is part of the strategy for expanding the Line exchange business, the company emphasized.
Recall that in Japan, the licensed BitMax cryptocurrency exchange owned by Line operates.
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