Matrixport Expands into Switzerland With Crypto Asset Manager Buyout

Singapore-based Matrixport announced its expansion into Switzerland on Monday, agreeing to acquire Crypto Finance Asset Management (CFAM). Previously, CFAM operated within the Deutsche Börse Group-owned Crypto Finance Group (CFG).

Post the acquisition, the unit has now been renamed to Matrixport Asset Management (MAM). Additionally, it will provide institutional-grade crypto investment solutions, alongside various crypto investment products and structuring capabilities. Meanwhile, Stefan Schwitter, who led CFAM’s asset management, has been appointed as MAM’s CEO.

Further, Matrixport’s CEO John Ge said the company is delighted with the new firm’s establishment and welcomes the team to the Matrixport family. “The acquisition enables clients access to the most innovative, compliant crypto asset management products, and aligns with our strategy to further expand services in Europe,” he added.

Also, the transaction has received necessary regulatory approvals, including from FINMA, Matrixport said.

We’re thrilled to announce that we officially completed the acquisition of Crypto Finance (Asset Management) AG (CFAM) @CryptoFinanceAG, now rebranded as Matrixport Asset Management AG (MAM), providing compliant crypto asset management services in Europe! #Matrixport #Compliance pic.twitter.com/zWr6NuGR60

— Matrixport Official English (the only official X) (@Matrixport_EN) September 30, 2024

Matrixport Expands Presence in Asia and Europe

CFAM first gained attention in 2018 as the first manager to obtain a FINMA license for crypto asset management. This license allowed the firm to compete with traditional asset managers in Switzerland and offer various investment products tracking cryptocurrencies like Bitcoin.

Its crypto fund, tracking the SIX Crypto Market Index 10, focused on investing in the top 10 largest crypto assets. Now, MAM could expand its options within Matrixport’s broader ecosystem.

Moreoveer, Matrixport has been actively growing its global team, making key hires to boost its presence in Asia and Europe. The company has obtained licenses in Hong Kong and Switzerland, essential for compliance and market access. These licenses reflect Matrixport’s strategy to enter markets where regulatory approval is critical to offer digital asset services.