LINE in step from obtaining a license of a crypto exchange from the Japanese regulator

LVC Corporation, a subsidiary of LINE, which focuses on blockchain technology and digital assets, is one step away from obtaining a license from a Japanese regulator in a crypto exchange.

It is reported that the LINE application for the launch of a regulated digital asset platform is already at the final stage of consideration by the Japanese financial regulator, FSA. It is expected that this month the company may receive a long-awaited license.

Having obtained a license, the company will be able to launch BitMax trading service, which will allow 80 million LINE users in Japan to buy and sell many cryptocurrencies, including their native messenger token. According to a recent press release, every month LINE has 187 million users worldwide, about 50 million users use the Line Pay service. It is known that BitMax users will be offered the same infrastructure as the BitBox crypto exchange users, which was presented to LINE in July 2018. Note that BitBox remains inaccessible to the residents of Japan due to the incompatibility of its activities with the requirements of the local regulator.

By the way, earlier this month it became known that LINE began working with the American company Visa to develop new blockchain solutions related to digital payments.