Matrixport, a global leader in cryptocurrency financial services, has announced its application for a Financial Services Permission License to operate in Gelephu Mindfulness City (GMC). This marks the first application under GMC’s newly launched financial services and virtual asset regulatory framework, positioning Matrixport at the forefront of South Asia’s burgeoning digital finance landscape.
Matrixport plans to introduce a comprehensive suite of virtual asset services in GMC, including structured products, real-world asset (RWA) offerings, prime brokerage services, and custody solutions. The firm’s move highlights its commitment to innovation and its strategy to expand into South Asia, using GMC as its regional base.
Strategic Expansion into South Asia
GMC, launched in December 2023, has quickly gained traction as a hub for virtual asset and traditional financial firms. Its strategic location—serving as a land bridge to South Asia’s rapidly growing economies—provides access to over 2 billion consumers. This unique position offers Matrixport vast market opportunities and aligns with GMC’s vision of fostering economic and social growth while emphasizing sustainability.
John Ge, CEO of Matrixport, expressed enthusiasm about the expansion. “As global interest in virtual assets continues to rise, GMC’s regulatory environment will provide an excellent platform for delivering innovative and compliant financial solutions to local and neighboring markets. We look forward to collaborating with GMC to advance its digital economy.”
Regulatory and Developmental Framework
GMC offers a progressive and risk-proportionate regulatory framework designed to support blockchain and technology-focused enterprises. The framework adheres to international standards while fostering innovation in financial services and virtual assets.
HB Lim, Managing Director of Financial Services at GMC Authority (GMCA), remarked. “GMC’s robust regulatory ecosystem is purpose-built to enable companies like Matrixport to thrive. Our goal is to establish GMC as a global hub for financial services and digital assets, driving growth while ensuring safety and compliance.”
About Matrixport
Founded in 2019, Matrixport is a pioneering hub for cryptocurrency financial services. The platform integrates trading, investment, loans, custody, RWAs, and research through its personalized Super Account. With $6 billion in assets under management, Matrixport serves users globally, offering solutions designed for capital efficiency and sustainable returns.
The company is well-regarded in the blockchain industry, earning recognition as one of CB Insights’ “50 Most Promising Blockchain Companies” and inclusion in the Hurun “2024 Global Unicorn List.” Matrixport holds licenses across jurisdictions, including Hong Kong, Switzerland, and the US, and continues to expand its global footprint.
Pending regulatory approval, Matrixport’s operations in GMC aim to boost the region’s economic growth, create innovative financial solutions, and support the global blockchain ecosystem. The announcement marks a significant milestone for both Matrixport and GMC, reinforcing their commitment to advancing the digital economy in South Asia.
Tashi Namgyal from Thimphu
