Matrixport acquires Swiss-based crypto asset manager CFAM

• Matrixport announced the all-cash acquisition of Crypto Finance (Asset Management) AG on September 30, 2024
• The company has rebranded CFAM to Matrixport Asset Management AG (MAM)
• Matrixport, which has $6 billion assets under management, will use the acquisition to expand its footprint in Europe

Matrixport, a crypto financial services provider, has completed its acquisition of Crypto Finance (Asset Management) AG, a Switzerland-based crypto investment solutions provider. The CFAM unit previously operated under the Crypto Finance Group, a platform owned by the Deutsche Börse Group.

According to an announcement on September 30, Matrixport’s acquisition of CFAM is via an all cash-deal and will see the Swiss-licensed CFAM 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.

Matrixport eyes European expansion

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 (Financial Market Supervisory Authority).

Other than this, Matrrixport sees MAM as its gateway into Europe. Per details in the press release, 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 & CEO of Matrixport, in a statement.

Matrixport has appointed Stefan Schwitter, previously the head of asset management at CFAM, as CEO of Matrixport Asset Management.

Co-founded by crypto mogul Jihan Wu and launched in 2019, Matrixport has a license as a money lender in Hong Kong. It’s also 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 Matrixdock. It also unveiled a new gold backed token on Ethereum and BNB Chain.