TOKYO – January 30, 2020 – LVC Corporation ("LVC"), a subsidiary of LINE Corporation ("LINE") and operator of LINE's cryptocurrency and blockchain-related businesses, announces plans to begin trading its digital currency in Japan from as early as April 2020. Dubbed “LINK,” the coins are issued by LINE TECH PLUS PTE. LTD. (“LTP”), LVC and LINE’s subsidiary.
Since launching on the BITBOX cryptocurrency exchange on October 16, 2018, LINK has been available to users worldwide except in Japan and the United States. Concurrently, LVC has been preparing to roll out the coins in the Japanese market in accordance with the Japan Virtual Currency Exchange Association’s (JVCEA) official process to handle new digital currency.
LVC is currently developing a system in preparation for LINK’s debut in Japan. The coin’s official release date (currently scheduled to be in as early as April 2020) will be announced separately once it is determined.
A separate announcement will also be made once the handling of LINK on the BITMAX cryptocurrency exchange as well as other details are determined.
About LINK
(1) Name: LINK
(2) Ticker: LN
(3) Issuer: LINE TECH PLUS PTE. LTD.
(4) URL: https://link.network/
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: Yongsu Ko, Representative Director and CEO
(4) Business: Holding company operating cryptocurrency brokerage and blockchain-related businesses
(5) Capital: JPY 5.06 billion (as of October 4, 2019)
(6) Established: January 31, 2018
(7) Registration number: Cryptocurrency exchange agency, 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: Yongsu Ko, Representative Director and CEO
(4) Business: Purchase and sales as well as intermediary trading of digital currencies through the BITBOX cryptocurrency exchange, and issuance of LINK (digital currency)
(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 (1) linking their bank account and presenting a piece of photo ID, (2) postal mail, or (3) 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: Operation of a brokerage allowing purchase and sales of digital currencies with fiat money
・Listed cryptocurrencies: 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, but fees will apply to deposit and withdraw yen as well as to withdraw cryptocurrencies. Additionally, while there are no trading fees, there may 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 cryptocurrencies can be found under "About the Service Provider and Trading Risks, etc." here:
https://terms2.line.me/lvc_adnotice (Japanese only)