Bitmain-Backed Digital Assets Company Matrixport Extends Its Crypto Services into Europe

Matrixport, a Singapore headquartered and Bitmain-backed crypto company that offers trading, lending, and custody services, extends its services into Europe through the establishment of its new Zurich office. However, for now, Matrixport will not offer its payment services in Europe. Instead, it aims to apply for a Swiss banking license.

Matrixport is backed by Bitmain, the Chinese crypto mining company, and it has plans to set up a European operations center in Switzerland. By joining other crypto firms based in Switzerland, it aims to reach out to cryptocurrency enthusiasts and institutional investors such as private banks, family offices, and asset managers who always welcome being exposed to cryptocurrency.

As stated by the report, Matrixport's Chief Operations Officer in Switzerland, Hui Wang said that the company plans to enlist close to 10 staff in the space of two years.

"We will start on a modest scale initially as we establish our name in Europe and establish a pool of clients. We don’t intend to act as a channel for our Singapore HQ, simply referring clients to Asia. We will service our European clients from Switzerland."

Matrixport is registered under the name of Chaintech in Switzerland and is presently a member of the self-regulatory body QVF, which is looked after by the Swiss Financial Market Supervisory Authority.

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