BIT (formerly Matrixport) exchange profile

BIT is the name adopted by the Matrixport group in March 2026. This profile concerns that continuing platform at bit.com. Its spot and OTC offering sits alongside investment and institutional services; the exchange-facing product menu must be read with the dated closure notices below.[1][3]

As checked on 20 October 2026, the main futures business is winding down. New openings have stopped, coin-margined perpetuals have ended, and USDT futures retain a closing window until December. An existing position therefore requires an exit plan tied to its actual product and account.[4]

For residual main-futures assets, BIT says staff will make contact within 15 business days to help transfer balances to the Wallet. Those balances cannot trade during processing.[4]

The separate BIT route to Binance USDⓈ-margined futures stopped new openings on 30 September 2026 at 12:00 UTC+8. Its published asset-transfer deadline is 31 December at 00:00 UTC+8, while final trading termination is stated as 14:00 that day. The transfer deadline comes first. BIT says staff will contact users with residual assets within 15 business days. These are restrictions on BIT’s routed service, not an announcement that Binance itself is closing.[5]

BGB, HYPE, DATA and PUMP have been sell-only since 4 September 2026 at 10:00 UTC+8 and are scheduled for spot removal on 7 December at 14:00 UTC+8. The notice, updated on 16 October, mentions residual assistance for BGB, HYPE and PUMP but omits DATA from that paragraph. A DATA holder should obtain an asset-specific instruction instead of assuming the same handling.[6]

A spot screen, an OTC quote and a prime-brokerage account have different cost structures. The public trading page does not provide a complete current spot maker/taker schedule in its readable material. Confirm the actual trade charge and execution price before submission; headline product availability does not establish a universal commission rate.[3]

Illustration: hypothetical US$600,000 AUM at 0.05% produces US$300. Seven subaccounts produce a US$700 minimum: US$500 + 2 × US$100. The monthly account charge is therefore US$700. Financing, profit share and settlement charges are additional where applicable.[9]

The same transfer table marks USDT on Omni and USDC withdrawals over BEP20 as suspended. Its smallest stated withdrawal amounts can be below the listed fee, so those minima should not be treated as usable net-transfer amounts. Check the live amount, network and fee together.[18]

Crypto funding is network-specific. A matching ticker alone is insufficient: the sending network, receiving address and any memo must match the instructions for that asset. If a deposit is missing, retain its transaction hash, verify confirmations and check the minimum amount. Wrong-network or missing-memo transfers require support investigation; recovery is not promised.[19]

Virtual bank accounts require prior OTC approval. The minimum deposit or withdrawal is US$50,000 equivalent. Transfers must be in the approved customer’s name; third-party payments can be frozen or returned with sender costs. The guide also says formal bank statements are unavailable for these virtual accounts. Those limitations matter if a receiving bank requires conventional account evidence.[23]

BIT’s transaction-monitoring policy describes screening with Chainalysis and the ability to request supporting information, reject funds, freeze activity or report a transaction. Rapid unexplained movement through an account can trigger review. Compliance queries can go to [email protected] or the account manager; a published transfer limit does not override a review hold.[21]

General terms permit commingling of customer assets and provide no default deposit protection; independently purchased third-party insurance is separate. Security controls do not establish customer compensation or an insured limit.[2]

BIT describes technical safeguards including encrypted communications, access permissions, two-factor authentication, withdrawal-address controls and security testing. These are operational claims by the provider, not a public reconciliation of every customer liability against reserves. A security feature and a legal right to recover assets answer different questions.[28]

Keep account credentials distinct from email credentials, retain control of the registered phone and use the supported authentication methods. BIT’s security guidance says staff do not ask for passwords or verification codes by phone or email. Suspicious activity or vulnerability reports can be sent to [email protected]; unsolicited assistance should not be treated as proof of an authorised account representative.[14]

The restricted-jurisdiction guide, updated on 9 July 2026, prohibits service to North Korea, Iran, Syria, Myanmar, Cuba, Crimea, Sevastopol, Russia and EU member states. It places additional conditions on Singapore, Hong Kong, the United States and its territories, Canada, Uzbekistan and Japan. The site also states that services are unavailable in the EU/EEA. A country appearing in a group company’s regulatory disclosure does not itself make every product accessible there.[11]

New subscriptions to all strategy products have required Qualified Investor Certification since 15 June 2026. Passing ordinary identity verification therefore does not by itself establish access to those strategies. Existing subscriptions and withdrawals remain subject to their own product terms rather than an assumed platform-wide retail permission.[10]

Individuals must be at least 18 and able to contract. Company representatives need authority; third-party activity requires consent. Product-specific terms prevail over conflicting general provisions.[2]

The phone-recovery guide distinguishes a routine number change from loss of the old number and authenticator. Where the registered email remains available, the latter route calls for the identity document used for verification and a selfie with a signed, dated request sent from that email to [email protected]. A fixed completion time is not stated. This recovery evidence should be submitted only through the provider’s published channel.[15]

Changing the Microsoft Authenticator binding triggers a 24-hour withdrawal restriction in that guide. Recovery keys need to be preserved before a device is lost. That specific hold does not establish that every other type of credential reset has the same duration, or that compliance review automatically ends when the clock expires.[16]

BIT’s regulatory disclosures are organised by legal entity and activity. They distinguish, for example, Fly Wing Technologies Pte. Ltd.’s Singapore payment-services role from the investment-management, trust or other activities of different affiliates. A licence held by one affiliate should not be read as authorisation for every product available under the BIT brand. Confirm the counterparty named in the actual agreement.[29]

Current regulator authorisation for the general platform counterparty was not independently verified from a firm-specific register entry. Treat the issuer’s licence descriptions as statements about specified entities and activities, with the customer’s actual contract determining the relevant counterparty.[29]

The general contract identifies Matrixport Technologies Ltd. in the British Virgin Islands and relevant affiliates as the platform counterparty.[2]

The general terms use BVI law and Singapore-seated SIAC arbitration in English. They permit restrictions, suspension and closure, and allow dormant balances to move to a non-interest-bearing suspense account without specifying a universal inactivity fee or period. Customer termination requires reasonable written notice; outstanding fees and obligations remain.[2]

Operator

Matrixport Technologies Ltd. and affiliates

Exchange model

Centralised

Service scope

Spot and OTC continue; derivatives have scheduled closure and new-position restrictions.

Client types

Retail clients; Institutional clients

Pricing publication

Public and quoted pricing

Other names

Matrixport; BIT (formerly Matrixport)

Headquarters

Singapore (group)

Funding scope

Crypto transfers and approved bank-linked OTC conversion.

Custody and asset handling

Custodial account; general terms permit commingling and provide no default deposit protection.

Client eligibility

Identity and jurisdiction checks apply; strategies require qualified-investor certification.

Support

App chat and [email protected].

Authorisation and registration scope

Entity-specific issuer disclosures; no independently established firm-specific permission asserted.

Exchange metadata checked 20 Oct 2026Source 1Source 2Source 3Source 4Source 5Source 6Source 7Source 8Source 9Source 10Source 11Source 12Source 13Source 14Source 15Source 16Source 17Source 18Source 19Source 20Source 21Source 22Source 23Source 24Source 25Source 26Source 27Source 28Source 29Source 30Source 31

Investment menus have their own changes. The 7 October 2026 notice added selected Fixed Income and Balance+ assets from 8 October, while removing FIL, LINK and XRP from Fixed Income and FIL, LINK and UNI from Balance+ on 12 October at 11:00 UTC+8. Existing fixed-term products mature into spot balances without automatic renewal; affected Balance+ positions are automatically redeemed. Those investment-product changes do not independently describe whether the same token is listed for spot trading.[31]

A connected order system needs explicit cancellation and reconciliation of execution reports. Stopping a client process alone does not demonstrate that its accepted orders have been cancelled. No public material inspected here established a separate AI agent that can independently authorise trades or withdrawals; the documented authority belongs to the account and API credentials.[27]