BIT Releases Trust Whitepaper V2.0 Detailing Security, Compliance and Verification Framework
BIT, formerly Matrixport, has released version 2.0 of its Trust Whitepaper as security incidents and thefts once again push platform safety to the front of the digital asset market. The document sets out how the company frames risk governance across account security, private key management, asset transfers and third-party infrastructure, while arguing that the real test is not whether a platform claims to be secure, but whether it can detect and contain abnormal activity early.
The whitepaper says BIT’s controls span pre-trade assessment, in-trade monitoring and post-trade handling. In operational terms, that includes due diligence, risk parameter setting, real-time monitoring, alerts, default handling and liquidation in areas such as financing and collateralized business. BIT also says it runs 24-hour monitoring for high-risk behavior including unusual logins, unfamiliar devices and suspicious withdrawals, with alerts, delayed processing or manual review triggered by risk level.
The document also expands beyond crypto-native activity. For its U.S. equities business, BIT says operations are run by Matrix Gelephu Pte Ltd under the supervision of the Gelephu Financial Services Office, with account, clearing and custody arrangements supported by applicable licensing structures, client asset protection mechanisms and licensed third-party financial institutions. The whitepaper adds governance information for Matrixport Asset Management and outlines the group’s compliance footprint across Hong Kong, Bhutan, Singapore, Switzerland, the UK, the US and the British Virgin Islands. BIT says trust must be backed not only by internal controls, but by transparency and independent verification, including ISO audits, SOC attestation, annual financial audits and internal audit processes.
