BIT.com

History and Business Model

BIT.com originated as Matrixport, a Singapore-based digital‑asset financial services firm that built a reputation for institutional‑grade custody, lending, and trading. In 2024/2025, the company rebranded to BIT, unifying its exchange, wealth, and custody offerings under a single brand identity. The platform’s business model centres on generating revenue through trading fees, wealth product spreads, lending interest, and custody service charges. By targeting both retail and institutional clients, BIT.com aimed to capture the full spectrum of digital‑asset wealth management.

Core Products and Platforms

The flagship product is a multi‑asset trading platform that supports over 1,000 crypto spot and contract pairs, as well as U.S. equities trading via integration with licensed U.S. broker‑dealers, using stablecoins for funding. The wealth segment offers fixed-income accounts with hourly compounding (Balance+), structured products covering bull, bear, and sideways markets (e.g., Dual‑Currency, Seagull, FCN, Sharkfin, Snowball), and collateral loans (Fixed Loan, Flexible Loan, Fixed Income Loan). Cactus Custody, a licensed digital‑asset custodian, provides secure storage and settlement services. Additionally, the platform operates an OTC desk with a “Same Name Virtual Account” service and a tokenised real‑world asset platform called Matrixdock, which issues products like Sovereign Gold RWA.

Regulatory Footprint and Market Position

BIT.com holds 12 licences across 7 jurisdictions, including approvals from the British Virgin Islands Financial Services Commission and a Financial Services Licence from Bhutan’s Gelephu Financial Services Office. This regulatory breadth positions the platform as one of the more compliant exchanges in the industry, though it competes with larger players like Binance, Coinbase, and Kraken in the crypto exchange space. Its niche lies in the comprehensive wealth management offering, particularly the structured products and institutional custody solutions.

Recent Developments and Strategic Pivot

In a major shift, BIT.com announced in late December 2025 a three‑step shutdown of its exchange operations, citing a strategic pivot. The closure timeline runs from December 27, 2025, to March 31, 2026, after which withdrawal functions will cease. Importantly, the custodial and wealth management services (Cactus Custody, structured products) are not affected by the exchange shutdown. This move suggests the company is re‑focusing on its higher‑margin wealth and custody businesses, which have received industry recognition, such as Cactus Custody winning “Custodian of the Year: APAC” at the Hedgeweek Digital Assets Awards 2026.