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Cryptocurrency News Articles
Matrixport Completes Acquisition of Crypto Finance (Asset Management) AG, Eyes European Expansion
Sep 30, 2024 at 04:04 pm
Matrixport, a crypto financial services provider, has completed its acquisition of Crypto Finance (Asset Management) AG, a Switzerland-based crypto
Cryptocurrency Matrixport has completed its acquisition of Crypto Finance (Asset Management) AG (CFAM), a Switzerland-based crypto investment solutions provider.
CFAM was previously part of the Crypto Finance Group, a platform owned by the Deutsche Börse Group.
According to an announcement on Sept. 30, Matrixport’s acquisition of CFAM is via an all-cash deal. The Swiss-licensed CFAM will be renamed Matrixport Asset Management AG.
“The acquisition expands our regulatory footprint in Switzerland and reflects our steadfast commitment towards continually collaborating with regulators to review existing regulations and refine virtual assets specific regulations in the years to come,” said Christopher Liu, Matrixport’s chief compliance officer & head of regulatory.
The new entity will offer crypto investment solutions and products, including the first crypto fund to receive regulatory approval from Swiss financial markets regulator FINMA.
The acquisition will also serve as Matrixport’s gateway into Europe, the press release noted. The deal has the approval of FINMA and all relevant regulatory and compliance agencies.
“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,” said John Ge, co-founder & chief executive officer of Matrixport, in a statement.
Matrixport has appointed Stefan Schwitter, previously the head of asset management at CFAM, as chief executive officer of Matrixport Asset Management.
Founded by crypto mogul Jihan Wu and launched in 2019, Matrixport also holds a license as a money lender in Hong Kong and is registered as a money services business in the United States.
The firm currently has $6 billion in assets under management and recently launched a real-world assets platform called Matrixdock. It also unveiled a new gold-backed token on Ethereum and BNB Chain.
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