Matrixport Expands into Switzerland With Crypto Asset Manager Buyout
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Singapore-based Matrixport announced its expansion into Switzerland on Monday, agreeing to acquire Crypto Finance Asset Management (CFAM). Previously, CFAM operated within the Deutsche Börse Group-owned Crypto Finance Group (CFG).
Post the acquisition, the unit has now been renamed to Matrixport Asset Management (MAM). Additionally, it will provide institutional-grade crypto investment solutions, alongside various crypto investment products and structuring capabilities. Meanwhile, Stefan Schwitter, who led CFAM’s asset management, has been appointed as MAM’s CEO.
Further, Matrixport’s CEO John Ge said the company is delighted with the new firm’s establishment and welcomes the team to the Matrixport family. “The acquisition enables clients access to the most innovative, compliant crypto asset management products, and aligns with our strategy to further expand services in Europe,” he added.
Also, the transaction has received necessary regulatory approvals, including from FINMA, Matrixport said.
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
CFAM first gained attention in 2018 as the first manager to obtain a FINMA license for crypto asset management. This license allowed the firm to compete with traditional asset managers in Switzerland and offer various investment products tracking cryptocurrencies like Bitcoin.
Its crypto fund, tracking the
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