Japan’s most dominant messaging giant, LINE crypto exchange and trading platform BitMax is now live. The company announced. Crypto traders all over the world can now buy and sell 100+ digital assets including BTC, ETH, and the firm’s native token; BTMX. The exchange went live on September 17, 2019. At the time of this writing, BitMax was not opened to United States (US) citizens.
LINE cryptocurrency exchange is FSA approval
BitMax was approved by the Japan’s Financial Security Agency (FSA) on September 6 to freely operate the crypto exchange in the region. The firm’s division, LVC Corporation, that is responsible for blockchain projects officially announced the newly launched crypto trading platform earlier today. Asian crypto traders will be able to transact the 5 major coins, namely: Bitcoin (BTC), Ether (ETH), Ripple (XRP) Bitcoin Cash (BCH), Litecoin (LTC), and native coin; Bitmax token (BTMX).
LINE crypto exchange Ripple (XRP) Boost
Out of all the coins listed on Bitmax, one in particular has benefited massively. Ripple (XRP) received a major price boost from Line App 81+ million Japanese subscribers. Bitmax exchange wallet is directed connected and accessible through the app.
September 17, 2019.@BITMAX_JP, virtual currency trading service that can be accessed from the “Line Wallet” tab on @LINEjp_official (used by more than 81M people monthly in Japan) launched services today, including support for #XRP.
— XRP Research Center (@XrpCenter) September 17, 2019
LINE crypto exchange Bitmax vs Bitbox trading platform
Bitmax is not without competition. Singapore-based crypto trading platform Bitbox has been operating globally since July 2018. However, Japanese and the United States citizens cannot use the exchange currently as they are restricted due to licensing requirements.
Line was one of the first popular technology brand to support and adopt blockchain technology. In 2018, Line released a native cryptocoin named LINK and its own blockchain network called Link Chain. LINK is currently trading a little under $2, with a market cap of $670,543,095.00 and available supply of 364,409,569 LINK coins.
Line has also teamed up with global payment processing giant Visa in collaboration to create a new blockchain and virtual payments processing company.