Matrixport acquires Crypto Finance AG unit in all-cash deal

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

Matrixport announced in a press release on September 30 that it has completed the all-cash acquisition of Switzerland-based Crypto Finance Asset Management, the asset management unit of Crypto Finance AG.

Christopher Liu, Matrixport’s Chief Compliance Officer and Head of Regulation, stated that the acquisition will expand its “regulatory footprint” into Europe and reflects the firm’s “firm commitment to continuously collaborate with regulators to review existing regulations and develop regulations specific to virtual assets.” years to come.

He also added that all transactions related to the deal were pre-approved by the Swiss Financial Market Supervisory Authority, the country’s financial regulator.

CFAM, previously a unit operating under Deutsche Börse Group’s Crypto Finance Group, will be renamed Matrixport Asset Management. Following the acquisition, CFAM’s previous head of asset management, Stefan Schwitter, was also appointed CEO of MAM.

“Our complementary strengths will add value globally to the Matrixport Group’s current and future customer base,” Schwitter said in the press release.

Following the acquisition, Matrixport Co-Founder and CEO John Ge stated that the two firms’ “complementary strengths will add value globally to the Matrixport Group’s current and future customer base.”

CFAM offers institutional-level crypto investment solutions, offers a range of different crypto investment products and provides structuring capabilities while managing Crypto Fund AG.

In May 2022, Crypto Fund AG became the first crypto company to receive an asset manager license from FINMA.

The Zug-based crypto firm was recognized as an asset manager under the Collective Investment Schemes Act. The license also authorized Crypto Fund AG to provide advice to institutional investors and serve a variety of traditional investors.

Meanwhile, Matrixport is a member of VFQ, Switzerland’s FINMA self-regulatory body. With $6 billion in assets under management, the firm operates as an Appointed Representative in the UK and is registered as a Money Services Business in the US.