Japanese messaging app giant LINE has announced the official launch of its cryptocurrency exchange, which will provide service for the platforms 81 million existing users.
LINE Launches Bitmax
According to a statement published Sept. 17, the exchange, called Bitmax, is allowing for live trades of five crypto-assets, including bitcoin, ethereum, ripple, litecoin, and bitcoin cash. The platform can be accessed through the Wallet tab on the LINE mobile application, which customers can use to deposit and withdraw payments.
LINE says it wants to promote convenience in connecting users to payment models such as cryptocurrency, and views the existing messaging application as a “smart portal” to the crypto exchange. The company says that Japan is trending towards a cashless society, and sees the cryptocurrency 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.
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