TOKYO – August 17, 2020 – LVC Corporation, operator of LINE’s crypto asset and blockchain-related businesses, announces that the total purchase amount for its proprietary crypto asset LINK, issued by its subsidiary LINE TECH PLUS PTE. LTD. on the crypto asset exchange BITMAX, exceeded JPY 100 million as of August 11, only six days after the currency’s launch on August 6.
LINK is a crypto asset issued using LINE’s proprietary private blockchain network LINE Blockchain (formerly known as LINK Chain). It was created as an incentive to reward users who contribute to the growth of LINE’s services on its blockchain. Issuance began in August 2018, and the token debuted on the cryptocurrency exchange BITBOX (available worldwide excluding Japan) on October 16, 2018. BITBOX was replaced by BITFRONT in February 2020.
Offering of LINK on the Japan-based crypto asset exchange BITMAX began on August 6, 2020. Only six days later, on August 11, total LINK purchase amount on BITMAX exceeded JPY 100 million, with over 10,000 users registered on BITMAX in the first week*1
Certain restrictions apply to trading and holding LINK. See the link below for details.
Trading restrictions will be updated taking in the market conditions.
https://terms2.line.me/ln_trade_explanations (Japanese only)
BITMAX was released on September 17, 2019 and has been popular among a wide range of users, notably new and beginner crypto asset traders. BITMAX is highly recognized for its seamless access from the LINE app, fast and easy deposit/withdraw through LINE Pay, and the ability to trade with little money.*2 While safety and security remains top priority, BITMAX offers simple and intuitive UI and UX as an introductory level crypto exchange for crypto trading beginners.
*2 Reference:https://linecorp.com/ja/pr/news/ja/2020/3144 (Japanese only)