Magnr
| Trading name | Magnr |
| Industry | Trading / savings (historical) |
| Founded | 2013–2015 (as Btc.sx / Magnr) |
| Defunct | January 2018 (trading and savings) |
| Website | https://magnr.com |
Magnr was a London-based bitcoin company that offered leveraged trading and an interest-bearing bitcoin savings product. The trading platform originated as Btc.sx around 2013. The Magnr brand and savings product were promoted in the mid-2010s. After retail trading and savings stopped, Magnr later presented itself as a venture capital firm rather than a consumer trading venue.
History
Btc.sx launched as a bitcoin-only margin trading venue. Contemporary coverage described it among early platforms that avoided fiat settlement on the trading side.[1] After the Mt. Gox collapse, Btc.sx reported routing orders to partner exchanges. Seed funding included a SeedCoin round reported in 2014.
Under the Magnr name the company marketed Magnr Trading (prepaid collateral, leverage options) and Magnr Savings (interest funded by leveraged-trading demand). A 2015 launch notice described blockchain-based bitcoin savings accounts.[2]
In mid-January 2018 Magnr notified users that Magnr Trading and Magnr Savings would be discontinued. A company support reply later stated the services had stopped on 19 January 2018 and that withdrawal requests were being processed.[3]
Years later, company communications described Magnr as focused on venture backing of digital-asset projects rather than operating the former retail trading and savings products.