Matrixport appoints new head for US business

Matrixport, the Singapore-based crypto trading and lending platform, has appointed a new head for its operations in the United States.

Mo Zhou, who was previously U.S. chief operating officer, is now heading up the company's institutional-focused business lines in the country, with former U.S. CEO Anthony DeMartino stepping down and assuming an advisory role.

DeMartino is a trading veteran who was hired roughly a year ago from Coinbase, where he headed up Coinbase Risk Strategies. Prior to that, he held senior trading roles at UBS, Barclays and HSBC, most recently as head of LATAM rates trading at HSBC.

US plans intact

DeMartino was hired as part of Matrixport’s international growth plans in the U.S., according to a press release announcing the hire at the time. Matrixport said those plans remain intact — despite the apparent hostility of local regulators towards crypto businesses.

“Matrixport continues have a presence in the U.S. as part of its ongoing international growth strategy. Anthony has transitioned into an advisory role with US COO Mo Zhou supervising day-to-day operations,” said Ross Gan, Head of Public Relations and Brand for Matrixport.

DeMartino’s successor, Zhou, is a Harvard-trained lawyer who has spent ten years working in derivatives and M&A, according to Gan.

Matrixport is one of Asia's bigger crypto businesses, with more than 290 employees worldwide, over $700 million in loans outstanding and $5 billion in monthly trading volume, according to its website.