Matrixport is a comprehensive platform for financial services in the field of digital assets, allowing users to invest in cryptocurrency, trade them, and utilize various crypto assets.
Matrixport Services
Matrixport is a fast-growing cryptocurrency platform, established in 2019 and based in Singapore. The company's founder is Jihan Wu, who also founded Bitdeer and is involved in cryptocurrency financial services. Matrixport offers a wide range of services, including:
- lending;
- custody;
- spot trading;
- margin trading.
Matrixport provides its clients with the opportunity cryptocurrency investment products, suitable for users with different levels of experience. They aim to give users more control over their personal finances. The company's main slogan is "Get more from your cryptocurrencies".
The company's wide range of services attracts users who want to increase their portfolio through the platform's investment services. Before using Matrixport's services, it's important to understand the key aspects of the platform's operation, including commissions for deposits and withdrawals.
| Token | Minimum Deposit | Minimum Withdrawal | Withdrawal Fee | Withdrawal Confirmation |
|---|---|---|---|---|
| BTC | 0.00001 | 0.000055 | 0.0005 | 6 |
| BCH | 0.0002 | 0.007 | 0.0001 | 6 |
| ETH | 0.0005 | 0.0008 | 0.0024 | 12 |
| ETC | 0.01 | 0.08 | 0.01 | 100 |
| USDT-ERC20 | 1 | 0.1 | 5 | 12 |
| USDT-TRC20 | 1 | 2 | 1 | 1 |
| USDC-ERC20 | 1 | 2 | 5 | 12 |
| USDC-TRC20 | 1 | 2 | 1 | 1 |
Users can choose from flexible or fixed cryptocurrency accounts, as well as utilize liquidity pools, DeFi protocols, and other tools to find investment opportunities. Additionally, Matrixport offers commission-free spot trading with the possibility of using five times leverage. The platform also provides convenient loans at competitive rates.
Development and Growth of the Cryptocurrency Platform
Matrixport, having spun off from Bitmain Technologies and specializing in crypto banking and financial services, raised $100 million in investment in August 2021, reaching a valuation of over $1 billion. Key investors included C Ventures and K3 Ventures, as well as funds associated with Yuri Milner, Qiming Venture Partners, and others.
Jihan Wu, co-founder and chairman of the board of directors, sees blockchain technology as the foundation of a new financial network that will facilitate the creation and transfer of significant value.
As of March 2021, the company managed assets worth more than $10 billion and recorded monthly transactions of $5 billion across all its product lines. Adrian Cheng, founder of C Ventures, sees in Matrixport the potential to meet the growing demand for new investment areas in digital assets.
The company plans to use the funding for investment in research and development, as well as for expanding its product portfolio and improving user experience. Matrixport also aims to expand its global reach and acquire additional licenses in various jurisdictions. As of August 2021, the company holds licenses in Hong Kong and Switzerland and has more than 220 employees serving clients in Asia and Europe.
Matrixport's Future Goals
Despite its advantages, Matrixport will need to make some adjustments to comply with regulations in popular jurisdictions like the USA and Canada, if they want to attract more users. Furthermore, some customers may find the app difficult to manage.
Open Finance, Metaverse, and Web3 are key to the company's investment approach. The current technological infrastructure, which serves as the foundation for society, faces serious challenges caused by its own success. These issues include user data privacy concerns, lack of trust in institutions, and high costs of intermediary services.
Web3 offers significant opportunities for more efficient and equitable distribution of value created among the community of creators and consumers, offering solutions to many fundamental problems of modern society.
Web3 technology is still in its early stages of development. Matrixport Ventures, as a leader in crypto-financial services, sees significant potential for creating synergy, collaboration, and supporting innovative projects in this area. The company is eager to work with projects and organizations at the early stages of their development to jointly promote a common development strategy.
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