- Abu Dhabi Global Market (ADGM) virtual asset framework and is spearheading the push for virtual asset adoption in the region
- Matrix is fully compliant with the Abu Dhabi Global Market (ADGM) virtual asset framework
- BitGo will provide Matrix with a wide array of custodial services
Matrix, a global virtual assets trading platform has entered into a partnership with BitGo.
According to an official press release, Matrix, which is fully compliant with the Abu Dhabi Global Market (ADGM), is partnering with BitGo, to access custodial services.
Matrix is a regulated virtual asset Multilateral Trading Facility (MTF) and Custodian in the Abu Dhabi Global Market (ADGM), and is fully dedicated to providing a compliant, secure, and fast virtual asset trading experience.
BitGo is a notable leader in a wide range of custodial services. Actually, BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions. They process over 20% of all global Bitcoin transactions and supports over 300 coins and tokens.
Why the partnership?
With research indicating that the global cryptocurrency market is expected to explode to $4.94 billion by 2030, Abudhabi is not sleeping on its laurels. Actually, the UAE is steadily catching up to Western countries in terms of participation in the virtual asset ecosystem.
Importantly, Matrix is angling BitGo’s hot- and cold-storage capabilities with the intent of protecting traders on its platform.
Of note, Matrix is currently fully compliant with the Abu Dhabi Global Market (ADGM) virtual asset framework. Currently, they are spearheading the push for virtual asset adoption in the region. But cautiously, they want a secure and user-friendly platform.
Therefore, Matrix intends to use BitGo’s custody solution to offer virtual-asset traders a variety of options. BitGo’s ability to offer custody solutions that provide virtual-asset traders with a variety of options shouldn’t be taken for granted.
At a time when the virtual asset community is massively growing, especially among first-time traders, the ability to provide a multi-signature bitcoin wallet critical to provide service, and more cannot be gainsaid. Importantly, users must access a service that is safe, trustworthy, and convenient to use.
Speaking at the launch of the partnership, the President of Matrix, Vasja Zupan, said;
The partnership with BitGo comes at an exciting time and offers our users the highest quality service when entering the virtual assets industry.
Also, speaking about the UAE venture, Mike Belshe, the CEO of BitGo said;
We are constantly expanding in the Middle East and specifically, in the UAE, a hidden gem with an innovative virtual asset landscape .we are constantly expanding in the Middle East and specifically in the UAE, a hidden gem with an innovative virtual asset landscape.
About the partnership, Belshe was categorical;
We look forward to offering users first-class service, and by partnering with a distinguished trading platform such as Matrix, we are cementing our foothold in the region.