Bitmain-Backed Cryptocurrency Startup Matrixport to Open Zurich Office
Helen Partz's original article for cointelegraph.com reduced by 73%
Matrixport, a Singapore-based crypto startup launched by former Bitmain CEO Jihan Wu, will expand its services from Asia to Europe through its new Zurich office. Registered under the name of Chaintech in Switzerland, Matrixport will begin offering its trading, lending and custody services in the country, Swiss-centred publication swissinfo. The European expansion news comes less than five months after Wu launched Matrixport in July to offer over-the-counter trading, lending and custody services for crypto.
The firm hired dozens of former Bitmain staff that were laid off from Bitmain as a result of the bear market of 2018. Hui Wang, the CEO of Matrixport in Switzerland, told swissinfo. Bitmain's Swiss subsidiary in Zug - Bitmain Switzerland - is poised to shut down, according to swissinfo.
Founded in 2013, Bitmain is one of the largest Bitcoin mining pools globally.
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Summarised crypto news.