Matrixport Expands into Switzerland with Acquisition of Crypto Asset Manager
Date: 2024-09-30 Author: Gabriel Deangelo Categories: BUSINESS
Singapore-based Matrixport has announced its entry into the Swiss market through the acquisition of Crypto Finance Asset Management (CFAM), formerly part of the Crypto Finance Group (CFG), a subsidiary of Deutsche Börse Group.
Following the completion of the transaction, CFAM has been renamed Matrixport Asset Management (MAM). The new entity will offer solutions for institutional investors, providing a wide range of crypto investment products and structuring options. Stefan Schwitter, who previously headed the asset management business at CFAM, has been appointed to lead MAM.
Matrixport CEO John Ge expressed his satisfaction with the deal and welcomed the addition of the new team. According to him, the acquisition will enable the company to offer innovative and compliant crypto asset management products to its clients, which is in line with the company’s strategy to expand its presence in Europe.
The deal has received all necessary regulatory approvals, including the Swiss Financial Market Authority (FINMA).
Strengthening Matrixport’s Position in Asia and Europe
CFAM became the first crypto asset manager to receive a FINMA license in 2018, allowing the company to compete with traditional Swiss asset managers and offer investment products that track cryptocurrencies such as Bitcoin. The CFAM fund, which focuses on investing in the top 10 crypto assets, will continue to grow as part of Matrixport.
Matrixport is actively strengthening its team by hiring key personnel to increase its presence in Asia and Europe. The company has already received licenses to operate in Hong Kong and Switzerland, which is an important step towards ensuring compliance and expanding access to the digital asset markets.
