Singapore-based cryptocurrency financial services platform Matrixport is expanding its presence in Europe through the acquisition of Swiss crypto asset manager Crypto Finance.
Acquisition of Crypto Finance
On September 30, Matrixport announced that it has completed its all-cash acquisition of Crypto Finance Asset Management (CFAM). CFAM was previously part of the Deutsche Börse Group-owned Crypto Finance Group (CFG).
Rebranding to Matrixport Asset Management
Following the acquisition of CFAM, Matrixport has rebranded the company as Matrixport Asset Management (MAM). The acquired business will focus on providing institutional-grade crypto investment solutions as a Switzerland-based unit of Matrixport. The transaction has received all necessary regulatory approvals, including approval from the Swiss Financial Market Supervisory Authority (FINMA).
Changes in Leadership
Some key executives from Crypto Finance have obtained roles at Matrixport’s new unit in Switzerland. Stefan Schwitter, who previously served as the head of asset management at CFAM, has been appointed as CEO of MAM. He stated: 'We are thrilled to join one of the true crypto trailblazers in the digital assets industry. Our complementary strengths will add value to the existing and future client base of Matrixport Group on a global level.'
This is a developing story, and further information will be added as it becomes available.
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