TOKYO – August 4, 2020 – LVC Corporation (“LVC”), a subsidiary of LINE Corporation (“LINE”) and operator of LINE’s crypto asset and blockchain-related businesses, announces that it will begin offering LINK, a crypto asset issued by LVC and LINE’s subsidiary – LINE TECH PLUS PTE. LTD. (“LTP”) – from August 6, 2020 on the crypto asset exchange BITMAX based in Japan.
Although BITMAX is the first exchange to offer LINK in Japan, the LINE-branded crypto asset has been tradable since October 16, 2018 on BITBOX, the predecessor of the global digital asset exchange BITFRONT (available in all regions except Japan).*1 With the addition of LINK, BITMAX is now expected to support six crypto assets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and LINK (LN).
*1: Reference (press release) https://linecorp.com/en/pr/news/global/2020/49
The date to begin supporting LINK is tentative, and any schedule changes will be announced separately.
About LINK
– Name: LINK
– Ticker: LN
– Issuer: LINE TECH PLUS PTE. LTD.
– URL: https://link.network/ja/
– Description: LINK is issued using LINK Chain, LINE’s proprietary private blockchain network.
– Offered from: 12:00pm on August 6, 2020 (JST)
About LVC Corporation
(1) Name: LVC Corporation
(2) Head office: Sumitomo Fudosan Osaki Garden Tower 22F, 1-1-1 Nishishinagawa, Shinagawa-ku, Tokyo
(3) Representative: Inkyu Lim, Representative Director and President
(4) Business: Holding company operating crypto asset brokerage and blockchain-related businesses
(5) Capital: JPY 5.06 billion (as of October 4, 2019)
(6) Established: January 31, 2018
(7) Registration number: Crypto asset exchange agency, Director of the Kanto Local Finance Bureau No. 00017
About LINE TECH PLUS PTE. LTD
(1) Name: LINE TECH PLUS PTE. LTD.
(2) Head office: 10 Anson Road, #23-14L International Plaza, Singapore 079903
(3) Representative: Lee HeeWoo, Representative Director
(4) Business: Issuance of crypto asset “LINK”
(5) Established: April 11, 2018
About BITMAX services
・To begin using BITMAX, users tap the BITMAX icon in the Wallet tab in the LINE app. Next, they are prompted to read through and accept the terms of use, register their personal information, and complete the identity verification process. Users can start trading once LINE finishes verifying their identity.
・Users can verify their identity by linking their bank account and presenting a piece of photo ID, or using the “Verify with your smartphone” option. More information can be found at the link below:
http://bitmax-mag.line.me/archives/15216188.html (Japanese only)
・Type of service: Fiat-to-crypto exchange
・Listed crypto assets: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC)
・Available to: Users who meet the following description at the time of opening a new BITMAX account.
– Owner of a LINE account
– Between 20–74 years old
– Resident of Japan
More details on the conditions for opening a BITMAX account can be found under “Section 4 – Opening a BITMAX Account” in the BITMAX Terms of Use:
https://terms2.line.me/lvc_terms (Japanese only)
・Fees: Opening a BITMAX account is free, however, fees will apply to deposit and withdraw yen as well as to withdraw crypto assets. Additionally, while there are no trading fees, there will be spreads (difference between the buying and selling price). More information on various fees can be found under “Trading Overview and Fees” here:
https://terms2.line.me/lvc_outline (Japanese only)
・Important points to keep in mind when trading crypto assets can be found under “About the Service Provider and Trading Risks, etc.” here:
https://terms2.line.me/lvc_adnotice (Japanese only)
