The subsidiary blockchain arm of the Chat giant LINE, LVC Corporation has obtained a license to operate a cryptocurrency exchange in Japan. The exchange, BitBox will thus offer crypto trading pairs with Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and XRP.

The new platform will offer its crypto exchange services in Japan where it has 80 million monthly active users. It has received the license under the Payment Services Act(PSA). LVC will thus streamline the service’s security and system operation, and build a robust team to operate a secure service. It will be in accordance with the Financial Services Agency’s guidance on the screening process and other necessary steps for the registration of new cryptocurrency exchanges. LVC Corporation is already operating a crypto exchange BitBox. However, due to licensing issues, its services were not available in Japan and the United States. FSA’s approval has now let the company extend its cryptocurrency trading to Japan.

In June, the operator of the LINE messaging app, LINE Pay had partnered with Visa, an American payments service. They both partnered to work on a blockchain-based payment Service.

With the addition of LVC, the Japanese regulator has thus granted permission to 20 companies to run crypto exchanges in the country as per the source.