Bitbox, the cryptocurrency exchange by Japanese messaging giant LINE, is delisting XRP.
Announcing the news on Monday, Singapore-based Bitbox said it is also delisting XRP pairs tied against bitcoin (BTC), ether (ETH) and Tether (USDT). The delisting takes place on Jan. 16.
Accordingly, users will no longer be able to trade and deposit XRP, and they have until Feb. 16 to withdraw their funds.
While Bitbox did not give specific reasons for the move, the exchange said it delists coins when they do not meet its standards based on “performance, reliability, liquidity, or law and regulatory requirements.”
BitBox was launched in July 2018 and is one of the two cryptocurrency exchanges LINE operates to serve its 186 million users. Japan-based Bitmax is the other exchange that recently received a license from the country’s financial regulator. Notably, Bitmax was approved to offer trading services in XRP.
Correction: This report has been amended to update the number of users served by LINE.