Share this article
Crypto Services Provider Matrixport Buys Crypto Finance's Asset Management Unit
Crypto Finance Asset Management AG has been renamed as Matrixport Asset Management AG (MAM).
Updated Sep 30, 2024, 8:50 a.m. Published Sep 30, 2024, 5:53 a.m.
Make us preferred on Google
- Matrixport has acquired Swiss-based Crypto Finance Asset Management AG in all-cash deal.
- The firm has been renamed Matrixport Asset Management AG (MAM).
Singapore-based crypto financial services platform Matrixport has announced an all-cash acquisition of licensed Swiss crypto asset manager and former Deutsche Boerse Group subsidiary, Crypto Finance (Asset Management) AG.
The Switzerland-based entity, now renamed Matrixport Asset Management AG (MAM), offers institutional-grade digital assets investment solutions, including the first FINMA-approved crypto fund. The acquired company was part of Crypto Finance, which falls under the Deutsche Boerse Group.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
FINMA is the Swiss Financial Market Supervisory Authority, an independent regulator of the European nation's financial markets. Matrixport has $6 billion in assets under management.
The regulatory-compliant acquisition expands Matrixport's footprints in Europe, reflecting the firm's "steadfast commitment towards continually collaborating with regulators to review existing regulations and refine virtual assets specific regulations in the years to come," Matrixport's Chief Compliance Officer & Head of Regulatory, Christopher Liu, said in the press release.
Stefan Schwitter, the former head of Crypto Finance Asset Management AG and now the CEO of MAM, said global clients stand to benefit from both firms' expertise.
CORRECTION (Sept. 30, 06:35 UTC): Corrects headline and story to clarify Matrixport has bought the asset management arm of Crypto Finance.
More For You
Accelerating Convergence Between Traditional and On-Chain Finance in 2026?
Commissioned bySociete Generale-FORGE
More For You
Recapping Consensus Hong Kong
Crypto's role in payments for AI, regulatory changes and the digital asset market dominated conversations on the ground.
What to know:
- Speakers at CoinDesk's Consensus Hong Kong conference said crypto and stablecoins are likely to become the default payment tools for autonomous AI agents in an emerging "machine economy."
- Market participants warned that bitcoin, which has already dropped nearly $30,000 in a month, may fall further, with $50,000 seen as the level to watch.
- Hong Kong regulators are pressing ahead with crypto rules even as others wait to see how U.S. legislation develops.
