Singapore-based crypto trading and lending platform, Matrixport, has appointed Mo Zhou as the new head of its institutional-focused business lines in the United States. Zhou, who was previously the U.S. chief operating officer, takes over from former U.S. CEO Anthony DeMartino, who will now assume an advisory role.

Despite the apparent hostility of local regulators towards crypto businesses, Matrixport's plans for international growth in the U.S. remain intact, according to Head of Public Relations and Brand for Matrixport, Ross Gan. With over 290 employees worldwide, Matrixport is one of Asia's larger crypto businesses, boasting over $700 million in loans outstanding and $5 billion in monthly trading volume.