Bitmain-Backed Crypto Startup MatrixPort Expands To Europe

Singapore-based crypto startup, Matrixport launched by the former CEO of Bitmain, Jihan Wu, will expand its services from Asia to Europe through its new Zurich office.

On Nov. 26, the swiss publication, swissinfo.ch reported that Matrixport will begin offering its trading, lending and custody services registered under the name of Chaintech in Switzerland.

The CEO of Matrixport in Switzerland, Hui Wang, says that Matrixport’s new office in Zurich will not act to simply refer clients to Asia, but will provide full service to European clients.

The report also notes that Bitmain’s Swiss subsidiary, Bitmain Switzerland is set to shut down. The branch was launched in late 2018 to boost the company’s global reach alongside other operations in:

  1. Amsterdam

  2. Hong Kong

  3. Tel Aviv

  4. Qingdao

  5. Chengdu

  6. Shanghai

  7. Shenzhen

Bitmain’s Global Reach

In September, Bitmain announced that it will launch the World Digital Mining Map, a platform to connect global crypto miners with farm owners.

During late October, Bitmain and DMG Blockchain Solutions announced the launch of a 25MW mining facility in Rockdale, Texas. The new mine aims to boost Bitmain’s international expansion that will soon expand to 50MW of processing power and then extend the operation’s capacity to more than 300MW.

Source: swissinfo.ch | cointelegraph

#matrixport #switzerland #Europe #bitmain #worlddigitalminingmap #chaintech

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