Matrixport, a global frontrunner in cryptocurrency financial services, has taken a significant step towards expanding its international footprint by applying for a Financial Services Permission License in Gelephu Mindfulness City (GMC). This move marks Matrixport as the first company to seek licensing under GMC’s newly established regulatory framework for financial services and virtual assets.
Since its inception announcement in December 2023, GMC has attracted considerable attention from both virtual asset innovators and traditional financial institutions. Matrixport’s application underscores the city’s growing reputation as a burgeoning hub for digital finance in South Asia. If approved, this license will enable Matrixport to offer a comprehensive suite of virtual asset services, including structured products, real-world asset (RWA) offerings, prime brokerage services, and secure virtual asset custody solutions.
John Ge, CEO of Matrixport, expressed enthusiasm about the expansion into Bhutan. “As global interest in virtual assets continues to rise, we believe GMC’s regulatory environment will provide an excellent platform for us to deliver innovative and compliant virtual asset financial solutions to the local economy and neighboring markets,” Ge stated. “We look forward to closely collaborating with GMC to advance its digital economy.”
The Managing Director (Financial Services) at the GMC Authority, HB Lim, highlighted the city’s strategic approach to regulation. “GMC’s robust yet risk-proportionate regulatory framework is purpose-built to support blockchain and technology-focused companies,” Lim commented. “We look forward to working with license applicants such as Matrixport to establish GMC as a regulated, vibrant, and innovative global hub for financial services and digital assets. This initiative reflects the needs of businesses, bolsters the global blockchain ecosystem safely, and drives growth for GMC.”
Founded in 2019, Matrixport has rapidly ascended to become the world’s leading all-in-one hub for crypto financial services. The platform offers users a personalized Super Account that seamlessly integrates crypto trading, investment, loans, custody, real-world assets, and research. With assets under management totaling USD 6 billion, Matrixport provides global users with diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.
Matrixport’s global regulatory compliance is extensive. The company holds Trust and Company Service Provider (TCSP)/Money Lender Licenses in Hong Kong and the FINMA Asset Management License in Switzerland. Additionally, Matrixport operates as an Appointed Representative in the UK, is registered as a Money Services Business (MSB) in the US, and is a member of Switzerland’s FINMA SRO-VFQ. Recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and featured in the Hurun “2024 Global Unicorn List,” Matrixport continues to solidify its position in the crypto financial landscape. Its subsidiary, Fly Wing, has also secured an IPA for the MPI License in Singapore, further expanding the company’s global reach.
The establishment of Matrixport’s regional base in GMC is poised to enhance the company’s expansion capabilities within South Asia and surrounding markets. Moreover, it is expected to contribute significantly to the economic growth of GMC by attracting more virtual asset firms and fostering a vibrant digital economy.
As Matrixport awaits regulatory approval from the GMC Authority, the cryptocurrency and traditional financial sectors watch closely. This landmark application not only signifies Matrixport’s strategic growth but also highlights GMC’s emergence as a key player in the global financial services and digital assets arena.
