Nikolas Sargeant
Matrixport, a Singapore-headquartered digital asset financial services platform, has announced its entry into the Swiss market through the acquisition of Crypto Finance Asset Management (CFAM). The deal, finalized on Monday, marks a significant step in Matrixport's European expansion strategy.
CFAM, previously part of the Deutsche Börse Group-owned Crypto Finance Group (CFG), has been rebranded as Matrixport Asset Management (MAM). This newly formed entity will focus on delivering institutional-grade crypto investment solutions, along with a range of crypto investment products and structuring capabilities.
Stefan Schwitter, who previously led CFAM's asset management operations, has been appointed as the CEO of MAM. The acquisition has received all necessary regulatory approvals, including from the Swiss Financial Market Supervisory Authority (FINMA).
John Ge, CEO of Matrixport, expressed enthusiasm about the acquisition, stating, "The establishment of MAM enables clients to access the most innovative, compliant crypto asset management products, aligning with our strategy to further expand services in Europe."
CFAM gained prominence in 2018 as the first asset manager to obtain a FINMA license for crypto asset management, allowing it to compete with traditional asset managers in Switzerland. Its flagship product, a crypto fund tracking the SIX Crypto Market Index 10, focused on investments in the top 10 largest cryptocurrencies.
This acquisition is part of Matrixport's broader strategy to strengthen its global presence. The company has been actively expanding its team and securing regulatory approvals in key markets, including Hong Kong and Switzerland, to ensure compliance and enhance market access for its digital asset services.
