Along with Facebook that keeps making noise in the world by its cryptocurrency project Libra, Japan's internet communication leader LINE is getting ready to receive the license for running crypto exchange business.
The sources in the know stated that it is highly possible the Japanese Financial Service Agency will grant the license to the company. It was stated that consideration of the application filed has already moved to the final phases.
In case of the positive determination, the company will become able to keep proceeding with its intentions to launch BitMax exchange in Japan. LINE can enable 80 million clients to enjoy crypto trading services even before this month ends.
For reference, LINE launched BitBox platform in Singapore in mid-2018, but the exchange is not authorized to offer trading services in Japan. There are rumours that the company will apply similar technologies to the new project.
Along with the crypto license, LINE is also waiting for a banking license in Japan. If the authorities approve the application, the company will be able to integrate crypto into its services, in particular, payment options.
By now, the Japanese regulator issued 19 licenses to cryptocurrency exchanges to run business in the country.