Crypto firm Matrixport to expand operations in Gelephu Mindfulness City
Last Updated on December 20, 2024 8:06 am
Matrixport, a global leader in crypto financial services, has announced its application for a Financial Services Permission License to operate in Gelephu Mindfulness City (GMC), making it the first licence applicant under GMC’s new financial services and virtual asset regulatory framework.
Matrixport plans to offer a comprehensive suite of virtual asset offerings in the GMC, which has seen significant interest from firms in the virtual asset and traditional finance sectors since the GMC’s launch was first announced in December 2023.
Matrixport’s presence in the GMC will be the firm’s first expansion into South Asia and will serve as Matrixport’s regional base for the region.
Subject to regulatory approval from the GMC Authority, Matrixport will offer compliant and diversified virtual asset financial services in the GMC, including structured products, real-world asset (RWA) offerings, prime brokerage services, and virtual asset custody solutions.
Matrixport aims to enhance its business expansion capabilities in GMC and surrounding markets and promote economic growth in the GMC.
Matrixport CEO John Ge said that the company is excited about its business expansion in Bhutan. “As global interest in virtual assets continues to rise, we believe GMC’s regulatory environment will provide an excellent platform for us to deliver innovative and compliant virtual asset financial solutions to the local economy and neighboring markets,” he said. “We look forward to closely collaborating with GMC to advance its digital economy.”
The Managing Director (Financial Services) at GMCA, HB Lim, said that the GMC’s robust yet risk-proportionate regulatory framework is purpose-built to support blockchain and technology-focused companies.
“We look forward to working with licence applicants such as Matrixport to establish GMC as a regulated, vibrant and innovative global hub for financial services and digital assets that reflects the needs of businesses, bolsters the global blockchain ecosystem in a safe manner, and drives growth for GMC,” he said.
Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform provides users with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more.
With USD 6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.
As a Group and through its local subsidiaries, Matrixport has received the Trust and Company Service Provider (TCSP)/Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland.
The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland’s FINMA SRO-VFQ. It was recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and featured in the Hurun “2024 Global Unicorn List”.
In addition, Matrixport’s subsidiary, Fly Wing, has obtained IPA for the MPI License in Singapore.