PANews reported on March 27 that BIT (formerly Matrixport) is hosting an industry event, "Trust in Digital Finance," in Singapore this week. The event invites representatives from global financial institutions and the digital asset industry to discuss governance standards, compliance frameworks, and operational infrastructure in the institutionalization process. This is BIT's first public event for the industry since its rebranding.
Cynthia Wu, co-founder and chief business officer of BIT, stated that the approval of the US spot Bitcoin ETF in early 2024 was a key turning point for the industry towards institutionalization, further integrating digital assets into the asset allocation scope of mainstream institutions. With the accelerated entry of institutional funds, market requirements for platforms and infrastructure have significantly increased; custody structures, compliance systems, and operational transparency have shifted from being advantages to becoming entry barriers.
Chief Brand Officer Wendy Sun stated that the transition from Matrixport to BIT reflects the Group's strategic layout for the future of digital finance. BIT not only represents "Bridge Into Tomorrow" but also embodies the two layers of meaning: "Build on Integrity and Trust" and "Build It Together," conveying the Group's vision of building digital financial infrastructure together with industry partners based on trust.
The event also included an in-depth discussion of BIT's Trust White Paper released last week. Cactus Custody CEO Daniel Lee elaborated on the trust framework proposed in the white paper, covering risk governance, multi-jurisdictional compliance, managed security architecture, and independent audit mechanisms. Chief Compliance Officer Christopher Liu then introduced the practical implementation of these frameworks in daily operations, including SOC audit reports and independent verification of ISO security standards.
