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LINE’s cryptocurrency trade primarily based within the U.S., BITFRONT, has introduced closure on Monday to shift its focus to growing LINE’s blockchain ecosystem.
See associated article: Changpeng Zhao says Binance has ‘no negative balances involved’ in proof of reserves
Quick information
- BITFRONT claimed its determination to close down the platform wasn’t associated to “certain exchanges which were accused of misconduct.”
- The crypto trade initially launched as BITBOX in 2018 in Singapore, earlier than rebranding to BITFRONT in its transfer to the U.S. in 2020.
- BITFRONT is operated by Tokyo-based web firm LINE Company and its blockchain subsidiary, LVC Company.
- LINE is a subsidiary of Z Holdings, which is owned by Japanese conglomerate SoftBank and South Korean web agency Naver.
- BITFRONT suspended new signups and bank card funds on Monday and buying and selling shall be halted on December 30.
- Prospects could make withdrawals till Mar. 31, 2023.
See associated article: Japan’s messenger app LINE launches NFT marketplace
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