Japan's most widely used messaging app Line to launch a crypto exchange with government approval
Line, the biggest messaging application in Japan, is close to obtaining an approval from Japan's Financial Services Agency this month to operate a crypto exchange in Japan. The exchange, called BitMax, will enable 80 million users of the Line messaging application to trade crypto assets.
According to sources of Bloomberg familiar with the matter, Line's own cryptocurrency Link will be listed on the exchange, which was officially launched in August 2018. The company did not conduct an initial coin offering (ICO) for the token and is expected to distribute its tokens to users as compensation of using services within the LINE ecosystem.
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