Jihan Wu’s Rumoured New Project is Already in Beta

Since the beginning of the year, rumours around a mysterious new project by Bitmain’s founder Jihan Wu have been circulating in the cryptospace. With the quiet beta launch of the Matrixport project, some of them have been confirmed.

The new startup is being built by former Bitmain employees (Chinese source), including people who previously worked on the Copernicus project that was allegedly cancelled after the crypto winter took its toll.

While very little further information about the project has been made public, a blog post by the company confirms the rumours that the startup will be in the lending niche. It reads:

“Matrixport has launched OTC trading, digital asset custody, and crytocurrency lending service to clients.”

The startup is headquartered in Singapore, has multiple offices around the world and has listed Bitmain, BTC.com, Antpool and BitDeer as official partners. Cryptocurrency lending is only part of its business, as it does appear to target multiple niches at once – and given Jihan Wu’s wealth it could be one of the best funded cryptocurrency startups in the world, with a significant chance at becoming a global leader in many of them.