Matrixport, the Singapore-based cryptocurrency financial services firm, announced its expansion into Switzerland on Monday by acquiring Crypto Finance Asset Management (CFAM), previously part of the Deutsche Börse Group’s Crypto Finance Group (CFG). Following the acquisition, CFAM has been rebranded as Matrixport Asset Management (MAM).
MAM will focus on providing institutional-grade crypto investment solutions, alongside a variety of crypto investment products and structuring capabilities. Stefan Schwitter, who previously led CFAM’s asset management, has been appointed as CEO of the newly established MAM.
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
Matrixport CEO John Ge expressed excitement about the acquisition, highlighting its role in enhancing client access to innovative and compliant crypto asset management products. He noted that this move aligns with Matrixport’s strategy to broaden its services in Europe.
The acquisition has received all necessary regulatory approvals, including from the Swiss Financial Market Supervisory Authority (FINMA).
A Look at CFAM’s Legacy
CFAM was recognized in 2018 as the first asset manager to obtain a FINMA license for crypto asset management, allowing it to compete with traditional asset managers in Switzerland. The firm offered a range of investment products tracking major cryptocurrencies, including a crypto fund that focused on the top 10 largest crypto assets based on the SIX Crypto Market Index 10. Under the MAM brand, there are opportunities to expand offerings within Matrixport’s broader ecosystem.
Growing Global Presence
In addition to its Swiss expansion, Matrixport has been actively enhancing its global team and making strategic hires to strengthen its presence in both Asia and Europe. The firm has also secured licenses in Hong Kong and Switzerland, underscoring its commitment to compliance and market access in regions where regulatory approval is crucial for delivering digital asset services.
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