Matrixport acquires Swiss asset manager to expand in Europe

Cryptocurrency financial services platform Matrixport is expanding its presence in Europe through the acquisition of Swiss crypto asset manager Crypto Finance.

In a Sept. 30 announcement, Singapore-based Matrixport mentioned that it has completed its all-cash acquisition of Crypto Finance Asset Management (CFAM).

Matrixport noted that CFAM was previously part of the Deutsche Börse Group-owned Crypto Finance Group (CFG).

Matrixport rebrands Crypto Finance to Matrixport Asset Management

Following CFAM’s acquisition, Matrixport has rebranded the company as Matrixport Asset Management (MAM). The acquired business will focus on providing institutional-grade crypto investment solutions as a Switzerland-based unit of Matrixport.

According to the announcement, the transaction has received “all necessary regulatory approvals,” including approval from the Swiss Financial Market Supervisory Authority (FINMA).

Some key executives from Crypto Finance also obtained a role at Matrixport’s new unit in Switzerland.

Stefan Schwitter, who previously served as the head of asset management at CFAM, has been appointed as CEO of MAM, the announcement notes.

“We are thrilled to join one of the true crypto trailblazers in the digital assets industry,” Schwitter said, adding:

“Our complementary strengths will add value to the existing and future client base of Matrixport Group on a global level.”

This is a developing story, and further information will be added as it becomes available.