Former Head of Bitmain Launches Matrix port Cryptocurrency Platform

Former Head of Bitmain Launches Matrixport Cryptocurrency Platform

Former CEO of the mining company Bitmain Jihan Wu (Jihan Wu) announced the launch of the startup Matrixport, in which he “lured away” many of his former colleagues.

As the general director of the company Ge Yuesheng said, the launch of Matrixport took place on Monday. The company has more than 100 employees, several dozen of whom previously worked at Bitmain.

The largest shareholder in Matrixport, headquartered in Singapore, is Jihan W. A number of venture capital companies and Bitmain also own Matrixport shares.

“By origin, we are very closely associated with Bitmain. But since we have different areas of business, we are more likely partners than rivals, ”said Ge Yueshen.

The Matrixport platform will provide over-the-counter trading, lending and storage services for digital assets. At the same time, the connection with the mining company Bitmain will allow it to better meet the needs of miners.

In addition, Matrixport intends to offer services for professional cryptocurrency traders and investors and compete with companies such as BitGo and Genesis Global Trading.

Note that Jihan Wu’s plans to launch a cryptocurrency platform form became known in early June. Then it was reported that Bitmain would be one of the main customers of Matrixport.