Japanese messaging giant Line has shuttered its Singapore-based crypto exchange and relaunched it as a global, rebranded United States-based platform.
Japanese messaging giant Line has shuttered its Singapore-based crypto exchange and relaunched it as a global, rebranded United States-based platform.
On Feb. 27, the team of the exchange — which first launched as BitBox in Singapore back in 2018 — revealed that the new U.S. platform will take the new name BitFront.
All changes to take immediate effect
BitFront is operated by LVC USA, the U.S. subsidiary of LVC Corporation, Line’s digital asset- and blockchain-focused arm.
As of today, users are automatically redirected from BitBox to the BitFront URL, where a series of notices informs them of the platform’s changes, all of which are effective today.
For example, the BitBox iOS and Android trading app are henceforth no longer live. The team has also published details of supported coins, overlapping with those formerly offered on BitBox: Bitcoin (BTC), Ether (ETH), Tether (USDT) and Line’s native token LINK.
To mark the launch period, zero-fee U.S. dollar fiat wire transfer deposits are now temporarily on offer for residents in approved U.S. states, after which regular, fee-based dollar deposits and withdrawals via Automatic Clearing House or wire transfer will open.
Residents in three U.S. states — Hawaii, Nevada, and New York — are not eligible for BitFront, as well as those in many countries globally. BitFront says the list is not final and will be updated in accordance with regulatory approvals.
With the transformation of BitBox into its U.S. replacement, LVC Corporation now operates two crypto exchanges worldwide. In September last year, the firm had obtained a crypto exchange operating license from Japan’s financial regulator and launched operations on its BitMax platform.
In early 2020, BitBox had chosen to delist XRP, which remains unavailable on BitFront.
Source: Cointelegraph https://cointelegraph.com/