According to a recent report by Bloomberg that cites individuals familiar with the matter, Japan’s Financial Services Agency could issue the license as early as this month with the official launch of the exchange planned for several weeks after the approval.
The new exchange, called BitMax, will allow Line’s 80 million users in Japan to buy and sell cryptocurrencies including Bitcoin and Line’s own token Link. It should be noted that this new exchange is unrelated to the BitMax that serves US customers.
This news comes after LINE previously launched a Singapore-based crypto exchange, called BITBOX, which currently offers roughly 30 different cryptocurrencies.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.