Popular Japanese instant messenger Line, whose user base has more than 200 million people, can get a license to launch a crypto exchange in Japan as early as this month. It is reported by Bloomberg, citing informed sources.
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According to the publication, the Financial Services Agency of Japan (FSA) is already ready to provide the appropriate permission, and operations on the new trading platform called BitMax will begin several weeks after its receipt.
It is reported that BitMax uses the backend of the Singapore trading platform BitBox, which Line launched last summer.
BitBox is unavailable in Japan, and Line revenues from this business are probably not too large: daily trading volume was 600,695 including trading pairs with the LINK token, data on which CoinMarketCap analytical resource calls untested.
In addition to permission from the FSA, the company also intends to obtain a banking license.
Recall that in August last year, Line announced the launch of its own public blockchain Link Chain and native Link token.