Matrixport Evolves Into Web3 Super App After 6 Years

Matrixport, a crypto asset management firm, has evolved significantly over the past six years, transitioning from a niche player to a comprehensive Web3 super account. The company was founded by Jihan Wu and John ge, who brought along their extensive experience from Bitmain, a leading crypto mining hardware company. Wu and Ge left Bitmain after a series of internal disputes and setbacks, including a failed IPO attempt and a deepening ideological divide among its founding leaders.

Matrixport was launched in Singapore in February 2019, with Wu serving as Chairman and Ge as CEO. The firm initially focused on digital asset management, an area that was virtually non-existent in the crypto industry at the time. The company's early business architecture was structured along two axes: beta returns, which involved spot trading and custody services, and alpha returns, which captured the upside through revenue sharing from quantitative strategies and structured products.

One of Matrixport's early innovations was the Dual Currency Investment (DCI) model, which combined money market deposits with currency options to deliver above-market returns. This product was particularly popular among miners, who needed to hedge against price volatility while covering high electricity costs. The DCI model later became an industry standard, replicated by exchanges such as Binance.

Matrixport's growth accelerated during the 2021 bull run, as the company built a full-stack product matrix covering custody, trading, lending, and investment. The firm secured Series C funding in August 2021, backed by dst global, C Ventures, and K3 Ventures, at a $1 billion valuation, officially joining Singapore's unicorn ranks.

Despite the crypto industry's susceptibility to spectacular crashes and bankruptcies, Matrixport has weathered two full market cycles with a deeply conservative operating philosophy. The company established a dedicated Risk Management Committee, supported by robust modeling and high-standard protocols, to ensure that shocks are inevitable but the impact remains within controlled bounds. Matrixport's asset scale doesn't change dramatically whether in bull or bear markets, as price volatility mostly impacts the USD-denominated value of crypto holdings, not the underlying asset volumes.

Matrixport's client base has evolved from early mining participants to high-net-worth individuals and institutions. The company offers a full suite of investment products designed to meet diverse client needs, including flexible savings plans, fixed-income products, structured products, and blockchain-based yield solutions. Matrixport also provides institutional-grade infrastructure, including OTC trading, custody, and prime brokerage services.

Looking ahead, Matrixport aims to become a Web3-era super app—a single entry point for digital asset services. The company is expanding its product verticals to lower the barrier to Web3 participation while delivering comprehensive, secure, and intuitive crypto financial services. Matrixport's long-term vision is to offer a one-stop platform that spans OTC trading, structured products, and multi-asset wealth management, ultimately becoming a fully compliant and listed company.

Matrixport's journey reflects the evolution of the crypto industry, from the early days of mining and ICOs to the current era of institutional adoption and regulatory compliance. The company's success is a testament to its founders' vision, discipline, and long-term commitment to building a durable and trustworthy asset management firm. As John Ge reflects, "Everything evolves according to its own internal logic. So does crypto. What we’re after isn’t novelty—it’s durability. And deep, enduring trust."

Ask Aime: What are the future prospects for Matrixport amidst the evolving crypto industry landscape?