Explaining the stunning rise of Singapore crypto unicorn Matrixport

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Singapore minted its latest unicorn earlier this month: Matrixport, the crypto-finance venture created by the founders of Bitmain, a Chinese manufacturer of bitcoin-mining hardware.

Matrixport’s customers are mainly the “crypto wealthy” – high-net-worth individuals and institutional investors who own at least US$1 million worth of crypto. The startup offers a Wall Street-style of investing, taking tried-and-tested techniques in traditional finance and applying them to the crypto space.

Ranging from trading to structured products, Matrixport’s financial services offer clients the potential to earn up to 30% annualized interest rates on a savings account, take zero-cost loans with zero liquidation risks, and access to double-digital annualized returns regardless of market conditions.

In this week’s story, Derek Lim takes a closer look at the Singapore-based startup’s product offerings.

Matrixport is planning to broaden its customer base soon. When it does, would its offerings be something you’d try? We’d love to hear what you think.

— Melissa

THE BIG STORY

How a Singapore crypto startup became a unicorn in just two years

Image credit: Timmy Loen

Established by high-profile founders, Matrixport promises zero-cost loans and double-digit annualized yields to its clients.

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