Line Near Approval of Japan License for Crypto Exchange
- New exchange BitMax could receive FSA approval this month
- New service will let Line’s 80 million Japan users buy Bitcoin
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Line Corp., Japan’s largest messaging app, is close to getting a license to launch a cryptocurrency exchange in its home nation, according to people familiar with the matter.
Japan’s Financial Services Agency could issue the license as early as this month, with exchange operations starting a few weeks after that, said the people, asking not to be identified discussing private matters. The service, which will be called BitMax, will allow Line’s 80 million users in Japan to buy and sell cryptocurrencies including Bitcoin and Line’s own token Link, one of the people said. Shares rose as much as 4.6%, the most intraday in two weeks.