LINE Launches Crypto Lending Service

LINE Launches Crypto Lending Service

By Abhimanyu Krishnan | News | 7 Oct 2020


Messaging services company LINE, which owns crypto services including the LVC crypto division, has announced that the latter will launch a crypto lending service, according to a report from Coindesk Japan on October 6.

  • The lending service will launch on October 7 on LVC’s exchange BitMAX, letting users lend their assets out on the exchange, for which they will receive interest payments
  • It will support the following assets: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC) and Bitcoin Cash (BCH)
  • LINE has received approval from Japanese authorities to run its cryptocurrency services; over 80 million people in Japan use LINE, and the company is attempting to leverage this user base
  • LINE has also launched the LINK blockchain, a crypto wallet and a blockchain development platform

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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