Subscribe for notification
Crypto

Matrixport buys Crypto Finance AG

Matrixport, a Singapore-based crypto financial services platform, has acquired the asset management unit of Crypto Finance AG

In a press release on September 30, Matrixport disclosed that they had successfully acquired Crypto Finance Asset Management, the asset management unit of Crypto Finance AG, in Switzerland, in an all-cash transaction.

Christopher Liu, Matrixport’s Chief Compliance Officer & Head of Regulatory, stated that the acquisition will broaden the company’s “regulatory footprint” in Europe and is indicative of the company’s “unwavering dedication to collaborating with regulators to review existing regulations and refine virtual asset-specific regulations in the years ahead.”

He also stated that the Swiss Financial Market Supervisory Authority, the country’s financial regulator, has pre-approved all transactions associated with the purchase.

CFAM, previously a unit of the Crypto Finance Group, which the Deutsche Börse Group owns, will be rebranded as Matrixport Asset Management. Stefan Schwitter, previously the director of asset management at CFAM, was appointed as the CEO of MAM following the acquisition.

Schwitter stated in the press release that the existing and future client base of Matrixport Group will benefit from the complementary assets of the two companies on a global scale.

John Ge, Co-Founder & CEO of Matrixport, declared that the “complementary strengths” of the two firms would “add value to the existing and future client base of Matrixport Group on a global level” following the acquisition.

CFAM provides institutional-grade crypto investment solutions, administers the Crypto Fund AG, and offers a variety of crypto investment products and structuring capabilities.

Crypto Fund AG was the first crypto firm to receive an asset manager license from FINMA in May 2022.

The Collective Investment Schemes Act recognized the Zug-based crypto firm as an asset manager. The license also granted Crypto Fund AG the authority to guide institutional investors and serve a diverse array of traditional investors.

Subsequently, Matrixport is affiliated with Switzerland’s FINMA self-regulatory organization, VFQ.

The organization is registered as a Money Services Business in the United States. It operates as an Appointed Representative in the United Kingdom, with $6 billion in asset management.

Hillary Ondulohi

Hillary is a media creator with a background in mechanical engineering. He leverages his technical expertise to craft informative pieces on protechbro.com, making complex concepts accessible to a wider audience.

Disqus Comments Loading...

Recent Posts

Shiba Inu Lead Hints At TREAT Token Launch

Shytoshi Kusama hints at the launch of the TREAT token, aimed at strengthening Shiba Inu’s ecosystem with trust, governance, and…

2 hours ago

Shiba Inu Burn Rate Soars, Price Target Rises

SHIB's burn rate soared over 4100% today as the crypto market rallied, with leading analysts suggesting a potential Shiba Inu…

2 hours ago

Analysts- Ether Price Could Dip Before 2025 Rally

Analysts predict Ether price could reach a $20,000 cycle top, with momentum building in early 2025. In the upcoming weeks,…

3 hours ago

Elon Musk Wins SEC Lawsuit

Elon Musk scored a significant win against the US SEC as the court rejected the Commission's request to sanction him.…

6 hours ago

Coin Center Warns Of US Crypto Policies Amid Trump Win

Coin Center notes that the Trump administration favors crypto but warns that ongoing cases may pose challenges for investors and…

8 hours ago

OpenAI Funds Research into AI Morality

OpenAI Inc. has awarded a grant to Duke University researchers for a project called "Research AI Morality," according to a…

16 hours ago