LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE, has obtained a crypto substitution operating license from Nihon'southward financial regulator.

The news was reported by Cointelegraph Nippon on Sept 6.

Trading for 5 major cryptocurrencies

As previously reported, LVC Corp.'s trading platform, to exist dubbed BITMAX, will enable Line'southward 80 million users in Japan to purchase and sell multiple major cryptocurrencies. Co-ordinate to CT Japan, the FSA has authorized the trading of Bitcoin (BTC), Ether (ETH), Bitcoin Greenbacks (BCH), Litecoin (LTC) and XRP on the platform.

Per a press release recently shared with Cointelegraph, LINE counts 187 1000000 global users monthly, with an estimated 50 1000000 users registered its mobile payment service, LINE Pay.

In July 2018, LINE had launched the Singapore-based, global user-focused crypto commutation BITBOX — and volition reportedly repurpose the platform'southward back-stop infrastructure for its Japanese FSA-canonical platform BITMAX.

Due to Japan's crypto exchange license requirements — in force since the amendment of the country'due south Payment Services Act in April 2017 — BITBOX is non attainable for Japanese traders.

LINE's native token and mainnet

LINE  launched its native Link cryptocurrency in late summertime 2018 and has since connected to develop a token ecosystem based on its service-oriented blockchain, Link Chain.

The blockchain network also allows for decentralized applications to be straight applied to Line's messaging platform.

LINK was listed on BITBOX in October 2018. While previous reports indicated that BITMAX, too, will support LINK trades, CT Japan has not indicated that the FSA has formally authorized the token in its list of approved cryptocurrencies for the forthcoming platform.

This June, LINE partnered with American payment services firm Visa on new blockchain and digital payments solutions.