The new crypto exchange will be called BitMax. It is expecting to receive FSA license within the next month. Exchange operations will start within a few weeks following the receipt of the license from the regulator. The news was reported by Bloomberg with reference to its sources.

The service will allow 80 million Japanese users to trade in cryptocurrencies. The messenger’s internal Link coin will also be available for trading. The news triggered the company’s shares to rise by 4.6% setting their two-week’s high.

BitMax will use the same back-end technology as BitBox, a Singapore-based crypto exchange that Line launched last year. BitBox is not available to Japanese users due to license issues and it has not yet generated the income expected by the company. According to the data published by the exchange, its daily trading volume is about $2 million.

Line is awaiting an extended banking license in Japan to enable deeper integration of cryptocurrencies into other services, such as online trading. Without naming its sources, Bloomberg writes that Line will not be able to obtain the license until next year.

The positive news is driving not only the growth of the company’s shares, but also of Line’s own token ticketed as Link. In June alone, its price almost doubled.

It shows growing global acceptance of cryptocurrencies not only by ordinary users, but also regulators. It is a second piece of news about global companies’ initiative to enter the cryptocurrencies market, the first being Facebook’s announcement of the launch of its own cryptocurrency Libra. This positive trend has pushed Bitcoin to a new annual high of almost $9,400 reached by it over last weekend.