The prominent Singapore-based crypto financial service firm Matrixport has acquired Swiss crypto asset manager Crypto Finance in an all-cash deal. This acquisition forms part of Matrixport’s expansion into Europe.
Matrixport rebranded the newly acquired company as Matriport Asset Management AG (MAM).
Matrixport Acquires Crypto Finance’s Asset Management Unit
Matrixport has expanded its presence in Europe by acquiring the asset management unit of the Swiss-based firm Crypto Finance (CFAM). In a Monday announcement, Matrixport disclosed the completion of the all-cash deal and even renamed the asset management unit.
This acquisition will transfer CFAM’s Swiss license to Matrixport so that it can operate in Switzerland. Matrixport has also gotten all the necessary regulatory approvals, including the Swiss Financial Market Authority’s (FINMA) endorsement.
CFAM was previously a Deutsche Borse Group-owned Crypto Finance Group (CFG) subsidiary.
We’re thrilled to announce that we officially completed the acquisition of Crypto Finance (Asset Management) AG (CFAM) @CryptoFinanceAG, now rebranded as Matrixport Asset Management AG (MAM), providing compliant crypto asset management services in Europe! #Matrixport #Compliance pic.twitter.com/zWr6NuGR60
— Matrixport Official English (the only official X) (@Matrixport_EN) September 30, 2024
Following the acquisition, Matrixport has rebranded CFAM as Matrixport Asset Management AG (MAM). The rebranded MAM stands out with its services in providing institutional-grade crypto investment solutions.
It also manages the first FINMA-approved crypto fund and offers a range of crypto investment products and structuring capacities.
In addition, MAM provides investment products that track prominent crypto tokens, including Bitcoin.
Reacting to the acquisition, Matrixport’s chief compliance officer and head of regulatory, Christopher Liu, indicated the company’s regulatory stance.
Liu stated: “The acquisition expands our regulatory footprint in Switzerland and reflects our steadfast commitment towards continually collaborating with regulators to review existing regulations and refine virtual assets specific regulations in the years to come.“
In addition, Matrixport co-founder and CEO John Ge expressed his excitement over the acquisition. He noted that MAM will provide its clients access to innovative and compliant crypto asset management products.
Ge indicated that the new asset management unit forms part of Matrixport’s vision to expand its presence and services in European countries.
Matrixport has appointed CFAM’s former head of asset management, Stefan Schwitter, as the CEO of MAM. Schwitter noted that the complementary capacity of the firm, via the acquisition, will boost Matrixport’s existing and future customer base globally.
The Singaporean Based Firm Spreads Across Asia And Beyond
Established in 2019, Matrixport has recorded meteoric growth to become one of the leading global crypto finance services companies. It offers its customers a wide range of crypto-based financial solutions focusing on optimal capital efficiency and long-term returns. The firm boasts $6 billion in assets under management (AUM).
Matrixport is committed to engaging in global markets while maintaining regulatory compliance in digital asset services. Though Matrixport has a physical headquarters in Singapore, it has expanded its presence globally to other countries and regions. It recently obtained a Hong Kong license as a TCSP and Money Lender.
Meanwhile, the crypto financial services company runs as an appointed representative and MSB in the UK and the US. It’s also a member of FINMA SRO-VFQ in Swizterland.
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