Matrixport

Matrixport is a Singapore-headquartered institutional crypto financial services platform founded in 2019 by Jihan Wu — co-founder of Bitmain — that has since grown into a regulated multi-product group serving professional investors, mining firms, exchanges, and funds across Asia and globally, and which formally rebranded as BIT in March 2026.

Background and Founding

Jihan Wu launched Matrixport in July 2019 as a spin-off from Bitmain's internal treasury and financial operations, recognizing a gap in institutional-quality financial services for the crypto industry. The company's custody infrastructure predates the retail platform: Cactus Custody originated from Bitmain's proprietary internal custodian solution in 2017 before being opened to external clients. Matrixport subsequently raised institutional funding, achieving unicorn status (valuation above $1 billion) and expanding to seven global offices headquartered from Singapore.

By the time of its March 2026 rebrand to BIT — standing for "Bridge into Tomorrow" — the group managed over $6 billion in assets and processed more than $7 billion in monthly trading volume. John Ge serves as CEO of the rebranded firm; Daniel Lee leads Cactus Custody as its CEO.

The Rebrand: Matrixport Becomes BIT

On March 20, 2026, Matrixport announced a full rebrand to BIT, reflecting the firm's evolution from a crypto-native startup into a regulated digital asset financial infrastructure group. The original matrixport.com domain now redirects to bit.com. The rebrand coincided with the shutdown of the Bit.com trading exchange — which had operated as a crypto derivatives venue — which ceased operations on March 31, 2026, following a phased wind-down announced in December 2025. All other BIT group products and client accounts remained unaffected.

Alongside the rebrand, BIT published its 2026 Trust Whitepaper, outlining its governance, risk management, and operational frameworks. The firm has stated it is exploring potential US capital markets opportunities, including a possible public listing.

Core Products and Services

Cactus Custody

Cactus Custody is the institutional-grade digital asset custody arm of BIT (formerly Matrixport). It is a qualified custodian and a Hong Kong-registered trust company, meeting capital reserve requirements and operating within regulatory AML and Know Your Transaction (KYT) guidelines. Since its external launch in 2019, Cactus Custody has reported zero security incidents. Clients include the world's largest mining companies, mining pools, cloud mining platforms, crypto exchanges, institutional funds, and OTC dealers. Custody includes cold storage, multi-signature controls, SSL encryption, and two-factor authentication.

Structured Products

Matrixport built its retail and professional investor reputation around a suite of options-based structured products, all of which predate and survive the BIT rebrand:

• Dual Currency: Launched in October 2019, this is a short-term paired investment that earns yield in either BTC or USDC depending on where the settlement price falls at maturity. It earns double-digit annualized yield regardless of market direction, suited for investors who are comfortable with currency risk on the settlement leg.
• Smart Trend: A call-spread strategy that delivers positive returns regardless of volatility while capping maximum upside. Advertised annualized yields up to 50% when the market moves in the investor's favor; principal is not at risk from downside.
• Range Sniper: An options-based product that automatically calculates spot, options, and settlement prices. It rewards maximum returns when the underlying asset (typically BTC) settles within a pre-determined price range at expiry.

A dedicated risk-control committee stress-tests each product before launch. Matrixport positioned these instruments as crypto equivalents of traditional structured notes — familiar mechanics for professional finance practitioners applying them to digital assets.

Fixed Income and Lending

The platform offers fixed-rate interest accounts with lock-in periods ranging from 8 to 240 days, historically advertised at yields up to 30% APY — a figure that reflects the risk involved and is not a guaranteed return. Crypto-backed loans let users post BTC, ETH, SOL, or other supported assets as collateral and borrow stablecoins or Bitcoin at interest rates of 0–8% depending on loan-to-value ratios and term.

DeFi Integration

Matrixport has offered access to on-chain lending protocols — including Curve and Compound — through a custodied interface, targeting yields of 5–30% APY for users who want DeFi exposure without direct wallet management.

Tokenized Real-World Assets (Matrixdock)

Matrixdock is BIT group's tokenized real-world assets arm, offering access to US equities and tokenized RWA instruments to institutional and professional clients. It is marketed alongside stablecoin treasury and cross-border settlement solutions, reflecting BIT's positioning at the intersection of traditional and digital finance.

Supported Assets and Solana

Matrixport supports a focused set of approximately seven cryptocurrencies: BTC, ETH, BCH, SOL, USDC, and a small number of others. SOL is available for custody via Cactus Custody, and for use in structured products and lending. The platform does not operate on Solana's blockchain — it is a centralized financial services platform — but Solana (SOL) is one of the natively supported assets for yield, borrowing, and custody.

No legitimate, official Matrixport token exists. Tokens appearing on Solana's token registry with "Matrixport" in the name are unverified meme tokens with zero liquidity and no connection to the company.

Regulatory Footprint

BIT group entities hold regulated licenses across six jurisdictions:

• Singapore: Major Payment Institution (MPI) license
• Hong Kong: Qualified custodian and trust company (Cactus Custody)
• Switzerland: FINMA-licensed Manager of Collective Assets
• United Kingdom, United States, and Bhutan: Additional regulated or registered entities

This multi-jurisdictional licensing positions BIT as one of the more compliance-oriented institutional crypto groups operating across Asia and Europe.

Security

Cactus Custody has maintained a clean security record since 2019. The platform uses cold storage for the majority of assets, multi-layer authentication, end-to-end encryption, and AML/KYT transaction monitoring. No third-party audits of the custody infrastructure are publicly disclosed in available sources, though the firm's regulated status in Hong Kong as a trust company implies external regulatory oversight of its capital and operational standards.

Target Users

Matrixport / BIT is explicitly not a retail platform for general crypto trading. It targets:

• Institutional investors (funds, family offices, asset managers)
• Mining companies and mining pools
• Crypto exchanges needing custody
• Professional traders seeking structured yield products
• Corporations exploring stablecoin treasury or cross-border settlement

The platform is not available to US retail users, though BIT holds a US regulatory registration and is exploring expanded US institutional access.

Current Status (as of September 2026)

Matrixport has fully rebranded to BIT. The trading exchange (Bit.com) closed March 31, 2026. Core services — Cactus Custody, structured products, fixed income, crypto lending, DeFi access, and Matrixdock RWA — remain operational under the BIT brand. The company is active, regulated, and expanding its institutional footprint, with leadership participating in industry events such as Token2049 Singapore in October 2026.