LVC, LINE’s crypto exchange operator and blockchain business unit, is launching a service that allows users to lend their exchange BITMAX crypto assets such as bitcoin and ethereum. Lenders will earn a rental fee in return, like the interest on a bank loan.

  • According to a statement filed by LINE at the Tokyo Stock Exchange on Tuesday, CoinDesk Japan announced, the company will run a promotion between Oct. 7 and Oct. 30 that will allow users to earn up to 10 percent per annum of the fee from the lending service.
  • In Japan, with more than 80 million local users, LINE is a standard messaging app.
  • After securing a license from Japan’s financial watchdog, the FSA, LINE Corp, launched its crypto exchange BITMAX last year, opening up trading services for its messaging app users.
  • The rental fee is paid regularly, beginning the day after the rental.
  • As reported by CoinDesk Japan, the lending service is available for bitcoin (BTC), ethereum ( ETH), XRP (XRP), litecoin (LTC), and bitcoin cash (BCH).
  • LINE unveiled a digital asset wallet and blockchain creation platform in August.

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