On Monday, Matrixport, a Singapore-based company, announced its expansion into Switzerland by agreeing to acquire Crypto Finance Asset Management (CFAM). CFAM was previously a part of the Crypto Finance Group (CFG), which the Deutsche Börse Group owned.
The entity was renamed Matrixport Asset Management (MAM) after the acquisition. Furthermore, it will offer institutional-grade crypto investment solutions, various crypto investment products, and structuring capabilities.
In the interim, Stefan Schwitter, who previously served as the head of asset management at CFAM, has been designated as the CEO of MAM.
Additionally, Matrixport’s CEO, John Ge, expressed his satisfaction with the new firm’s establishment and extended a warm greeting to the team as a member of the Matrixport family.
“The acquisition is consistent with our strategy to expand our services in Europe further and provides clients with access to the most innovative, compliant crypto asset management products,” he continued.
Matrixport also stated that the transaction has been granted the requisite regulatory approvals, including those from FINMA.
In 2018, CFAM became the first manager to secure a FINMA license for crypto asset management, which garnered significant attention. The firm was able to offer various investment products that tracked cryptocurrencies such as Bitcoin and compete with traditional asset managers in Switzerland as a result of this license.
Its crypto fund, designed to monitor the SIX Crypto Market Index 10, is dedicated to investing in the top 10 most considerable crypto assets. Now, MAM has the opportunity to broaden its capabilities within the more extensive ecosystem of Matrixport.
Additionally, Matrixport has expanded its global workforce by recruiting critical personnel to enhance its presence in Europe and Asia.
The organization has acquired licenses in Switzerland and Hong Kong to ensure compliance and market access. Matrixport’s strategy to offer digital asset services in markets where regulatory sanction is essential is reflected in these licenses.
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