The LINE Corporation, operators of the LINE token, has announced the official launch of BITMAX, a crypto trading and exchange platform. BITMAX will be accessible via the Wallet tab on LINE’s native app, which currently already boasts of almost 100 million Japanese users monthly.
The announcement reveals BITMAX as “a simple and secure cryptocurrency exchange” which will make trading digital currencies very easy, even for newbies who aren’t used to the cryptosphere and have no trading experience at all. For now, BITMAX will support the five largest digital currencies by market cap, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
Interested users have to meet certain requirements to be able to trade on BITMAX. Apart from the fact that it would be impossible to trade on the platform, LINE requires individuals to be between the ages of 20 and 74 and must compulsorily be living in Japan.
Growth in technological innovation, especially within the finance sector and as it relates to fintech, has been commendable around the world in the last few years. Japan, just like many other countries, is constantly looking into ways of reforming the financial sector, targeting a paradigm shift in the current traditional financial status quo.
This is where cryptocurrency shines and LINE has placed itself in the center of the change in technology, especially with crypto and blockchain, to ensure related growth and development.
“LINE sees the cryptocurrency industry as one with new user needs waiting to be met and the potential to deliver next-generation technological paradigms. Additionally, proof of concepts for blockchain – the core technology of cryptocurrency – have been flourishing in many different areas, demonstrating the technology’s potential to change future ecosystems and economic systems.”
BITMAX promises users that the platform will adopt “robust security measures”, ensuring that trading will be secure even as deposits and withdrawals will be enabled in Yen, through LINE.
The LINE Corporation also prides itself as an important role-player in the adoption of digital currency in Japan and with the launch of BITMAX, LINE hopes to not only solidify this position but to also expand crypto adoption in Japan.