Japanese Messenger App LINE Launches Crypto Exchange on Its Platform

LINE, the Japanese messaging application, has announced the official launch of its own crypto exchange, which will provide service for the platforms 81 million users.

According to a statement, the exchange is called Bitmax. It will allow five crypto assets for trading, including BRC, ETH, DCH, XRP and LTC. The platform can be accessed through the Wallet tab on the LINE mobile application, which customers can use to deposit and withdraw payments.

The initiative of LINE is aimed at promoting convenience in connecting users to payment models such as cryptocurrency. The existing messaging application has all means to become a “smart portal” to the crypto exchange. The company says that Japan is trending towards a cashless society, and sees the crypto industry as “one with new user needs waiting to be met,” with the potential for next-generation, technological innovation.

According to the release, LINE is emphasizing user security on their platform,

“[LINE] has been one of the heaviest investors among Japan's internet businesses into security measures. This approach has extended to BITMAX, offering users a reliable and stable service that prioritizes security and safety above all else.”

Bitmax was released in stages on Sept. 17, being made available first through Android.