Messaging Firm LINE Makes Own Token Available to Japanese Traders for First Time

The blockchain subsidiary of the messaging app giant has made its LINK (LN) token available to Japan-based traders for the first time.

By Sebastian Sinclair

Aug 10, 2020 at 7:48 a.m. UTC

Updated Sep 14, 2021 at 9:41 a.m. UTC

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The blockchain subsidiary of messaging app giant LINE has made its native token available to Japan-based traders for the first time.

Announced Thursday, BitMax – operated by LINE's LVC Corporation – has become the first crypto exchange in Japan to offer link (LN).
The token was previously listed on LVC's U.S. exchange Bitfront, which denies access to Japanese traders.
The token was launched as a rewards incentive in 2018 for LINE's over 84 million monthly active users, per the company's figures.
The company aims to develop an ecosystem in which users of services over LINE's network are rewarded in LN tokens for using decentralized apps, or dapps.
LINK is not to be confused with decentralized oracle network Chainlink's token of the same name (and goes by the ticker symbol LINK).
LINE's token was previously issued via the firm's proprietary private blockchain network and was listed on the Bitfront exchange (formerly Bitbox) back in August 2018.
The token joins five other listed crypto assets on BitMax including bitcoin (BTC), ethereum (ETH), XRP (XRP), bitcoin cash (BCH) and litecoin (LTC).
LVC is the operator of LINE's crypto asset and blockchain-related businesses.
It launched the BitMax exchange after being awarded a license by Japan’s Financial Services Agency (FSA) on Sept. 6, 2019.

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