Wu Jihan, ex CEO of Bitmain, has started a new cryptocurrency startup that offers financial services to its customers. The team for his new startup also includes a group of ex Bitmain employees.

What is Bitmain?

If you are not familiar with it, Bitmain is one of the Largest mining pools in the crypto industry.

What do you mean by financial services?

By financial services, I mean that the startup will offer trading, lending, and custody for crypto assets to its customers.

When will it be accessible?

The platform is called Matrixport and it will go live on Monday, however, we do not have a certain time available.

According to a Bloomberg report, Wu Jihan is a major shareholder in the company, along with a group of global venture capital firms and Bitmain itself; its headquarters are located in Singapore. We should be expecting precise details about the company’s funding at a later date.

A Bitmain shareholder, Ge Yuesheng said in an interview:

“We are closely tied to Bitmain by our origin, but because we operate in different businesses, we are partners rather than competitors.”

The new platform aims to challenge BitGo and Genesis Global Trading.

Regarding Bitmain, it’s important to note that an anonymous source told Bloomberg that Bitmain is expecting a raise between $300-500 million in an IPO later this year.

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