Media: ex-head of Bitmain Jihan Wu is about to launch an over-the-counter trading platform

According to The Block , by the end of July, the former head of the Chinese mining giant Bitmain intends to launch a startup Matrix, specializing in over-the-counter trading, lending and custodial solutions.

According to Chinese sources familiar with the situation, Bitmain will be the key partner of Matrix. Earlier, the Chinese giant contributed to the development of a startup and now intends to make it "the world's largest OTC platform." Also Matrix will provide Bitmain custody and landing services.

Given the ban on trading in cryptocurrencies in China, Matrix is likely to be registered in another jurisdiction. However, some experts do not exclude that the authorities of the People's Republic of China with the aim of dedening the industry may provide a new startup with a monopoly right to trade in digital assets.

Recall, due to disagreements on key issues, Bitmain founders Cihan Wu and Mikri Zhang left executive positions , but reserved the right to make important strategic decisions.

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