Bloomberg reported on the evening of July 8 that the cryptocurrency trading platform Matrixport was launched online today. Behind it is the team of Bit Continental co-founder Wu Jihan and dozens of former Continental employees.
Its CEO, Yuesheng Ge, the richest man in the 2018 Hurun Report, said that Matrixport is a one-stop platform for trading, lending, digital asset custody and digital payment services. It is one of the major shareholders. Unlike the media's previous speculation, Matrixport is headquartered in Singapore and not in China. Ge Yuezhen said that Matrixport is challenging large trading and hosting platforms such as BitGo Inc.
According to the Matrixport Beta official website, it is a member of the Finma Supervisory SRO of the Swiss Financial Supervisory Authority, which will launch more compliant blockchain financial products. Its official customer service also sets up a blank fill in the user questionnaire that also wants what Matrixport offers .
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Among them, Matrixport lending allows customers to pledge BTC and obtain corresponding stable currency, legal currency and other working capital for the purchase of mining machines and other activities. Its hosting business, Cactus Custody, is equipped with an HSM encryption machine and a bank-level cold storage data center to protect customers' assets from cold and hot storage.
Trading and custody wars intensify
It is worth noting that on the same day, CoinDesk also reported the launch of two other exchanges. One is the IDG-based cryptocurrency exchange KuMEX, which aims to make the transaction price of cryptocurrency more fair and rigorous; the other is ShapeShift's unmanaged new platform, giving users full control of the private key to challenge the hosting platform such as Coinbase. Whether it's Matrixport or two other new online competitors, they have written on the veteran trading platform in terms of trading and hosting.
PANews is in "Who is paving the way for big institutions?" The ecological picture of scanning the escrow industry mentions that mature and compliant encryption asset custody is a prerequisite for large institutions to enter the cryptocurrency market. Only by opening up multi-party trust and providing safe and legal admission channels, institutional funds can be assured of admission. Goldman's investment in BitGo, a well-known service provider for vertical hosting, manages $5 billion in assets . Coinbase, which is to be challenged by ShapeShift, has a self-built crypto asset hosting channel and may also acquire other heavyweight hosting platforms.
In contrast, Matrixport's Cactus Custody has hosted $1 billion in assets once it is publicly available. According to the Matrixport website, Cactus Custody is hosted by mining companies, mining pools, exchanges, funds, mortgage lending platforms and many other corporate customers . It seems that Matrixport's managed assets are partly derived from Bitland. Since the specific data has not yet been released, the gap between the two is still unknown.
Pledged assets are hosted in Matrixport's self-built hosting platform. It should be pointed out that self-built hosting platform can only reduce the risk of stealing money and losing money, but it can not reduce the risk of subjective misappropriation of assets .
On the flip side, Matrixport's main lending sector has already had a lot of players in encryption lending. As PANews mentioned in "The Bull Market must read the encrypted financial map to find the income artifact" , there are already many head enterprises on the market, such as Genesis Capital in the United States and PayPal Finance in Asia. The scale of the collection is more than 100 million US dollars. .
Since November 2018, Bitland has undergone a series of architecture and staff adjustments. Mines, AI, BCH and other businesses have been stripped. In February, Bitland launched a new generation of chips, turning its business focus back to mining machine production and sales, and its performance began to improve.
In terms of management, first of all, in November last year, four directors, including Ge Yueyu, withdrew. Ge Yueyu, who is only 27 years old, is the co-founder and executive director of Bitcoin. He was once the second largest shareholder of the Jank Group. After the withdrawal, Ge Yuejun formed a new company "Matrix" as the CEO. In March, Bitland published an internal letter stating that the company's structure has undergone major adjustments. Wang Haichao served as the company's CEO, and Wu Jihan will continue to serve as a director. On March 26, the Bitcoin IPO was declared invalid.
Also in March, it has been reported that Matrix will be on the online trading platform, Wu Jihanhan and some former employees of Bitcoin are involved. At the end of June, Bitcoin completed a large-scale employee option contract signing to prepare for listing in the US .
Since Bitcoin made structural adjustments at the beginning of the year, the two companies now operate differently, although they are closely related. "We are more inclined to cooperate than to compete." Ge Yueyu said.
Ge Yue said that Matrixport will use its company's relationship and expertise with Bitcoin to meet the needs of China's encryption miners. Bitcoin still holds the first place as a strategic partner on the Matrixport webpage. Other strategic partners such as BTC.com, ANTPOOL and BITDEER are also companies in the Bittland ecosystem.
Bit Continental Ecology Expansion
Financial lending as the blood of the encryption world, Matrixport's entry is undoubtedly an important part of Bitcoin's blockchain infrastructure, and lending, custody, and OTC can build a complete upstream and downstream industry chain together with its mining main business .
As the official website introduces, users can pledge BTC to Matrixport (BCH, ETH, LTC and other currencies are on-line), obtain stable currency, legal currency liquidity, use for mining machines, pay for electricity, expand production, guarantee operation, and at the same time, good encryption Opportunity for appreciation of asset prices.
Up to now, according to PANews statistics, Bitcoin has invested in a number of projects in the exchange, wallet, AI, payment, public chain and other fields, from mining at the top of the industry chain to the exchange, to the user payment at the terminal, from the underlying technology. To the application , Bitland has made a layout.
The battlefield of the encryption economy, the smoke is everywhere, the giants bring their own traffic and the ecosystem to support the admission, and the world of blockchains that seeks to go to the center of the dream may eventually become the same as the Internet era, becoming the giants and head unicorns. Centralized ecology.
Text | Freesia