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Matrixport

Stablecoins accepted by Matrixport

About Matrixport

Matrixport is a platform founded in February of 2019 by Wu Jihan, where you can trade, invest, custody, and lend crypto assets with no difficulties. It is a project from Bitmain, a very famous crypto, and blockchain mining. 

The enterprise's mission is to promote the use of crypto assets and make them easy to use, as well as facilitate an equal financial system using blockchain.

Wu Jihan, the co-founder of Bitmain, disposed of a group of that mining enterprise employees to begin a different cryptocurrency financial services startup on account of capitalizing Bitcoin.

Matrixport has its bases in Russia, Switzerland, Hong Kong, and Singapore. It counts with investors such as Bitmain, IDG Capital, Lightspeed, StandardCrypto, Paradigm, DragonFly Capital Group, Polychain, and Yuesheng Ge.

Matrixport currently employs around 160 people and has about 30,000 registered users in total.

 

Matrixport allows its users to buy eight cryptocurrencies with different popular fiat currencies.

Since the Simplex's partnership, Matrixport offers its users around the world to choose between eight different cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), DASH, DAI and Tether (USDT). They can be bought with Visa or Mastercard on the platform or the mobile app.

 

Bit.com

Bit.com is a crypto derivatives exchange launched by MatrixPort, that will offer both futures and options products.  There are currently around 50 people operating at Bit.com from Matrixport.

 

What Is a Derivative?

A derivative is a financial security, which its value is derived from an asset or group of assets that act as a benchmark. There are two or more parties that have a contract and the derivatives obtain their price from fluctuations in the elementary asset.

Bit.com begins just when the market of bitcoin derivatives grows faster than the spot market. Daniel Yan, Matrixport COO, announced that especially options in the crypto derivatives market are ready to rise "30 to 100 times in the next five years".

Yan believes that Bit.com would essentially increase the liquidity of the options market. Also, he told that Bit.com would be a platform where both retail and institutional users grow with it.

The futures market is already 500 times bigger than the options market. Therefore, it is not expected to grow as fast as the options market, Yan said, but Bit.com wants to make traders able to trade futures as well.

 
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