Singapore-based crypto financial services platform Matrixport has acquired the asset management unit of Crypto Finance AG.
Deal Details
On September 30, Matrixport announced it has completed an all-cash acquisition. The acquisition involved the Swiss company Crypto Finance Asset Management (CFAM), the asset management unit of Crypto Finance AG.
Comments from Representatives
Matrixport’s Chief Compliance Officer & Head of Regulatory, Christopher Liu, remarked that the acquisition will expand their 'regulatory footprint' into Europe. He also noted that all transactions related to the deal have been pre-approved by the Swiss Financial Market Supervisory Authority (FINMA).
Context and Background
Previously, CFAM was part of the Deutsche Börse Group-owned Crypto Finance Group. After the acquisition, the company will be renamed to Matrixport Asset Management. Stefan Schwitter, the former Head of Asset Management at CFAM, has been appointed the CEO of MAM. CFAM offers institutional-grade crypto investment solutions and manages the Crypto Fund AG, which became the first crypto firm to receive an asset manager license from FINMA in 2022.
The acquisition of Crypto Finance AG's asset management unit will allow Matrixport to strengthen its position in the European market, providing clients with additional opportunities to invest in crypto assets.
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