Singapore-based Matrixport announced Monday its expansion into the Swiss market, agreeing to acquire Crypto Finance Asset Management (CFAM). CFAM previously operated as part of Deutsche Börse Group ‘s Crypto Finance Group (CFG).
Following the acquisition, the unit was renamed Matrixport Asset Management (MAM). In addition, it will provide institutional-grade cryptocurrency investment solutions, as well as various cryptocurrency investment products and structuring opportunities. Meanwhile, Stefan Schwitter, who headed CFAM’s asset management, has been appointed CEO of MAM.
In addition, Matrixport CEO John Ge said the company is delighted with the formation of the new company and welcomes the team to the Matrixport family. “The acquisition gives clients access to the most innovative, compliant crypto asset management products and is in line with our strategy to further expand our services in Europe,” – He added. Matrixport also said the transaction has received the necessary regulatory approvals, including from FINMA.
Matrixport expands its presence in Asia and Europe
CFAM first came to attention in 2018 as the first manager to obtain a FINMA license to manage crypto assets. This license allowed the company to compete with traditional asset managers in Switzerland and offer various investment products tracking cryptocurrencies such as Bitcoin.
Its crypto fund, which tracks the SIX Crypto Market Index 10, focused on investing in the top 10 crypto assets. Now MAM can expand its options in the broader Matrixport ecosystem.
What’s more, Matrixport is actively expanding its global team, making key hires to increase its presence in Asia and Europe. The company has obtained licenses in Hong Kong and Switzerland, necessary for compliance and market access. These licenses reflect Matrixport’s strategy to enter markets where regulatory approval is critical to offering digital asset services.
