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LINE Shuts Down Crypto Exchange BitBox; Opens US-Based BitFront

Image Source: today.line.me

LVC corporation, the subsidiary company of the popular Japanese messaging application, Line, has made the decision to shut down its Singapore-based cryptocurrency exchange, BitBox. The announcement has been made on Feb. 27, stating that the Bitbox will be discontinued and then re-launch under the new name of BitFront from the U.S.

The new U.S. based crypto exchange, BitFront, will be operated by LVC USA under the LVC Corporation. The changes were effective immediately after the notice. Current users of BitBox will be automatically redirected to BitFront, where users would be informed of the changes in the company’s structure.

BitFront hopes to gain attention from the U.S. customers by offering a limited-time promotion until Mar. 31 to all US citizens, except those from the state of Hawaii, Nevada, and New York. The residents of the approved U.S. states will be waived from all USD deposit fees with no limit on deposit amounts or the number of deposits.

Line’s proprietary LINK token (LN) that was available on BitBox is still available on BitFront exchange. The exchange currently offering only a few selected cryptocurrencies, namely, BTC, ETH, BCH, LN, and USDT.

You may also want to read: LINE’s LINK Token Launching in Japan As Early As Apr 2020

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