Singapore, Dec. 6, 2021 — Matrixport, Asia’s fastest-growing digital-asset financial services platform, has announced the launch of its first-mover “Buy Below Market” (BBM) and “Sell-Above Market” (SAM) offerings.
BBM and SAM allow users to buy or sell Bitcoin (BTC) at a discounted price or at a premium across a range of tenors. The rates will be optimized automatically by Matrixport’s system.
John Ge, co-founder and CEO of Matrixport, said: “With innate fluctuations of BTC price, opportunity cost is commonplace in crypto. Our latest products address this pain point by allowing our customers to enter a BTC position or liquidate at a better-than-market price. Our offering is designed to remove the stress of timing the market, so crypto trading becomes easier for everyone.”
Users can express their views on BTC by selecting from a range of target buy prices at a discount with BBM. The lower the selected buy price and the longer the tenor, the greater the discount rate will be.
For each target buy-price option, there are three possible outcomes:
If the BTC price settles between the specified range: 50% of the user’s fund will be used to purchase BTC at the price of the lower bound. Users will receive BTC bought at the discounted rate and 50% of the fund returned as USDT/USDC.
If BTC price settles at or below the lower bound of the specified range: 100% of the user’s fund will be used to purchase BTC at the price of the lower bound, and users will receive BTC.
If BTC price settles above the upper bound of the specified range: Orders are knocked out, and users will get back 100% of their USDT/USDC fund.
Conversely, there are three similar outcomes with SAM, with users having the opportunity to sell their BTC at a premium above the current market price. The higher the selected sell price and the longer the tenor, the greater the premium rate.
Following the recent introduction of BTC U-Range Sniper and ETH 2.0 Staking Earn, the launch of BBM and SAM is a reflection of Matrixport’s commitment to continually introduce innovative products to make investing easier for both crypto prosumers and novices.
Starting today, users can access and utilize the product at any time. To find out more about how Matrixport’s BBM and SAM work, please refer to this factsheet.
About the company
Matrixport is one of Asia’s fastest-growing digital-asset financial services platforms. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. Its offerings include CactusCustody(™), spot OTC, fixed income, structured products, lending and asset management.
Headquartered in Singapore, Matrixport’s mission is to make crypto easy for everyone. Its motto is “Get more from your crypto.” The company holds licenses in Hong Kong and Switzerland, with over 250 employees serving both institutions and retail customers across Asia and Europe. For more information, visit www.matrixport.com.
Media contact (Wachsman)
Bee Shin, senior consultant