- Founded
- 2019-01-01 in Singapore
- Headquarters
- Singapore
BIT.com is a cryptocurrency and stock trading platform that was originally launched under the name Matrixport in 2019. The platform rebranded to BIT.com and offers services including spot and derivative crypto trading, tokenized real-world assets, and wealth management products. It is operated by Matrixport, a digital asset financial services company founded by Jihan Wu, co-founder of Bitmain. The platform is regulated in Singapore and has expanded to offer US stocks trading. In early 2025, BIT.com announced a phased shutdown, with the platform expected to fully cease operations by March 2026, marking a significant shift in the company's strategy.
Detailed Review
Company History
BIT.com began as Matrixport, a digital asset financial services platform founded in 2019 by Jihan Wu, a prominent figure in the cryptocurrency industry known for co-founding Bitmain. Matrixport initially focused on crypto lending, custody, and trading. In 2022, the company rebranded its consumer-facing trading platform as BIT.com, positioning it as a one-stop platform for crypto and traditional finance. The rebranding was supported by a fresh marketing push and new product offerings.
Business Model and Products
BIT.com generates revenue through trading fees, spreads, and wealth product management. Its core products include: - Crypto trading: Spot and derivatives markets for major cryptocurrencies. - US stocks trading: Brokerage-like access to American equities, tokenized for on-chain settlement. - Tokenized real-world assets (RWAs): Tokenized versions of assets like equities, bonds, and commodities. - Wealth products: Structured deposits, managed portfolios, and yield-generating instruments.
Market Position and Competition
BIT.com competed with other centralized exchanges like Binance, Coinbase, and OKX, as well as with neo-brokerages offering crypto/stock hybrids. Its unique selling point was the integration of tokenized RWAs and a regulated Singapore-based entity. However, its market share remained modest compared to top-tier exchanges.
Licensing and Regulation
BIT.com is regulated by the Monetary Authority of Singapore (MAS) under Matrixport's Capital Markets Services license. The platform adheres to local anti-money laundering and cyber-security standards.
Recent Developments and Shutdown
In March 2025, BIT.com announced a phased shutdown of its platform, citing strategic realignment. The shutdown process is expected to complete by March 2026, with users urged to withdraw funds. This development surprised the market and has led to discussions about the sustainability of niche crypto exchanges.
Key Products
BIT US Stocks
Regulated access to over 16,000 US equities via stablecoin deposits, offering shareholder rights and zero commission (platform fee only).
BIT Wealth
Suite of yield products including Fixed Income, Balance+ (hourly compounding), Structured Products (e.g., Dual-Currency, Sharkfin, Snowball), and Collateral Loans.
Matrixdock
Tokenisation platform for real-world assets (e.g., gold-backed tokens), enabling on-chain investment in physical assets.
BIT Exchange
Full-suite cryptocurrency exchange with spot and futures trading, over 1,000 pairs, institutional liquidity, and competitive fees.
Cactus Custody
Institutional-grade digital asset custody service, regulated and audited, winner of Hedgeweek Custodian of the Year APAC 2026.
BIT OTC
Over-the-counter trading desk with dedicated same-name virtual accounts for fiat-crypto conversion.
OTC Trading
Over-the-counter service with dedicated 'Same Name Virtual Account' for fiat settlement.
Wealth Products
Structured products (Dual Currency, Sharkfin, Snowball, FCN), fixed-income earn (Balance+), and collateral loans.
US Stock Trading
Access to 16,000+ U.S. equities via NBBO system, with zero commission and flat platform fee.
Crypto Trading
Spot and derivative trading of major cryptocurrencies including Bitcoin and Ethereum.
US Stocks Trading
Tokenized trading of US equities such as Apple, Tesla, and S&P 500 ETFs.
Tokenized Real-World Assets
Tokenized versions of bonds, commodities, and other traditional assets.
Key Persons
Jihan WuCEO