Japan Approves LINE’s Crypto Exchange License

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September 9, 2019 – Japan’s choice messaging app LINE is now approved to operate its cryptocurrency business in the country.

Coindesk Japan reported that the company’s registration was completed on September 6, 2019 under the name LVC. LINE President Takeshi Dezawa also disclosed the registration of LVC to the Tokyo Stock Exchange. As a start, the exchange will handle Bitcoin, Ethereum. Bitcoin Cash, Litecoin, and XRP.

According to an English press release, LINE’s group company LINE TECH PLUS PTE. LTD. has already been operating BITBOX cryptocurrency exchange since July 2018 in all countries except Japan.

Coindesk Japan noted that LINE joins other major Japanese companies like Rakuten and Yahoo! Japan in getting into the blockchain and cryptocurrency space.

Coindesk previously reported that LINE’s aim is to build a token economy around its blockchain platform called LINK Chain. It will be offering two tokens LINE Point for users in Japan and LINK elsewhere. Five dapps will be joining this blockchain while the company and all other cryptocurrency exchanges in Japan wait for revisions related to cryptocurrencies in the country by 2020.

Sources: Coindesk, Coindesk Japan, LINE

This article is first published on BitPinas: Japan Approves LINE’s Crypto Exchange License

Photo by Jezael Melgoza on Unsplash

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