Matrixport

Matrixport is a Singapore-based crypto financial services platform founded in February 2019 by Jihan Wu and John Ge (Yuesheng Ge), both veterans of Bitmain, the world's largest Bitcoin mining hardware manufacturer. Wu spun Matrixport out of Bitmain to build a one-stop digital asset financial infrastructure targeting retail and institutional investors across Asia and globally. In March 2026, the company rebranded as BIT, with matrixport.com now redirecting to bit.com, though the entity, products, and legal arrangements remained unchanged under the rebrand.

Origins and Growth

Matrixport emerged from Bitmain's ecosystem at a time when the mining company was navigating significant financial pressure. Wu and Ge brought deep institutional knowledge of crypto infrastructure and set out to build what they described as a "super account" for digital assets — combining trading, lending, yield products, custody, and investment research under a single platform. The company grew quickly, attracting a Series C funding round of $100 million in August 2021 from investors including DST Global, C Capital, Tiger Global Management, and Qiming Venture Partners. That round valued Matrixport at $1.5 billion, making it a unicorn. The firm now employs approximately 245 people across seven global offices, including Singapore, Hong Kong, Switzerland, the United Kingdom, the United States, and Bhutan.

Platform and Products

BIT (formerly Matrixport) positions itself as Asia's largest one-stop crypto financial services platform. It offers a suite of products designed to maximize capital utilization across different investor risk profiles:

Trading: Users can trade spot markets and derivatives on Bit.com, Matrixport's exchange arm, which launched in mid-2020. The platform initially focused on Bitcoin futures and options before expanding to a broader range of assets. Instant swaps are available with zero commission fees, while limit orders carry approximately 0.1% fees. Leveraged trading supports up to 5x leverage, and the platform offers trading bots and auto-investing functionality.

Yield Products: Fixed-income savings accounts offer yields on assets including Bitcoin, Ether, USDC, and Tether. The platform has paid out more than $2 billion in cumulative interest to users. Flexi Saving accounts provide hourly compounding and quick withdrawal. Dual Currency products allow investors to earn enhanced yields by targeting a buy or sell price on BTC, ETH, or SOL, generating returns regardless of whether the strike price is reached.

Lending and Borrowing: Users can deposit crypto as collateral to borrow stablecoins or Bitcoin. A distinctive zero-cost loan structure is available for Bitcoin collateral, where users set a take-profit price and can potentially exit without repayment if that target is hit.

Real-World Assets (RWA): Matrixport's tokenization arm, Matrixdock, issues on-chain representations of real-world assets including tokenized gold and tokenized US Treasuries. These products target institutional and professional investors seeking regulated on-chain exposure to traditional asset classes.

Wealth Management for Institutions: The platform manages and custodies more than $6 billion in assets and facilitates over $7 billion in monthly trading volume. Services include bespoke structured products, institutional liquidity and financing, and OTC trading. In September 2024, Matrixport acquired Crypto Finance, a Swiss-regulated digital asset broker and custodian, expanding its European footprint.

Cactus Custody

Cactus Custody is Matrixport's institutional custody arm and operates under a Hong Kong trust company license. It holds Deloitte SOC 2 Type 2 and SOC 1 Type 1 certifications and has maintained a zero-incident security record since inception, serving more than 300 institutional clients with over $3 billion in assets under custody.

Assets in Cactus Custody are held primarily in HSM-backed cold storage. For clients needing DeFi access, Matrixport developed Cactus Link, a browser-based wallet extension that enables institutions to interact with decentralized protocols across nearly 30 blockchains. Cactus Link supports Solana, Bitcoin, Ethereum, Cosmos, and more than 20 EVM-compatible chains, enabling institutional participants to stake, provide liquidity, or access on-chain lending markets without exposing private keys. Transaction validation, address verification, multi-party approval workflows, and hardware-backed signatures are all available through the tool. In 2025, a mobile approval tool was added to allow secure on-the-go transaction reviews.

Solana Integration

Solana (SOL) is one of the core assets supported across Matrixport's product stack. SOL is available for spot trading, Dual Currency yield products, and custody through Cactus Custody with Cactus Link DeFi access. Institutional clients can use Cactus Link to interact natively with Solana-based DeFi protocols — including staking, liquidity provisioning, and lending — while maintaining institutional-grade key management and approval controls.

Matrixdock, the tokenization subsidiary, has made Solana a deployment target for RWA issuance. In February 2026, Matrixdock expanded its XAUm tokenized gold product to the Solana network. XAUm represents one troy ounce of 99.99% pure, LBMA-accredited physical gold per token, securely vaulted and independently audited. The Solana deployment launched with initial liquidity on Raydium for decentralized trading, with planned expansion into Solana-based lending markets. Matrixdock cited Solana's throughput, low latency, and growing DeFi ecosystem as key drivers for the expansion.

Prior to the XAUm launch, Matrixdock also served as the tokenization technology provider for TER, a sovereign gold-backed token issued by Gelephu Mindfulness City of the Kingdom of Bhutan, which launched on Solana in late 2025. These initiatives position Matrixdock as one of the more active institutional tokenization platforms deploying to Solana.

Security and Regulatory Compliance

BIT (formerly Matrixport) holds regulatory licenses across multiple jurisdictions: a Major Payment Institution license in Singapore, regulated status in Hong Kong, FINMA authorization in Switzerland, and approvals covering the United Kingdom, the United States, and Bhutan. This multi-jurisdictional regulatory footprint is unusual for a crypto-native platform and reflects the company's focus on serving institutional clients with stringent compliance requirements.

Security at the platform level includes offline cold storage, SSL encryption, and two-factor authentication for all accounts. Cactus Custody's SOC 2 Type 2 certification provides independent third-party verification of its security controls. The firm has reported no security incidents or hacks since its founding in 2019.

Rebrand to BIT

On March 20, 2026, Matrixport formally rebranded as BIT, adopting the tagline "Bridge into Tomorrow." CEO John Ge framed the change as a response to digital asset markets entering a phase of greater governance, transparency, and operational discipline. The rebrand affected only the name and visual identity — client accounts, products, legal entities, and contractual arrangements were unchanged. The company is also exploring a potential US public listing.

The @CactusCustody handle on X represents the institutional custody division, which continues operating under that brand within the BIT group.