On Monday, September 30, 2024, Singapore-based crypto service provider Matrixport announced the complete acquisition of Crypto Finance (Asset Management) AG (CFAM). The entire procurement deal entails regulatory greenlights, including FINMA’s approval.
Meanwhile, for context, the CFAM is a licensed crypto asset manager domiciled in Switzerland. It was formerly an integral part of the Deutsche Börse Group-owned Crypto Finance Group (CFG).
The CFAM’s latest procurement marks a significant achievement for the company. Aside from merely strengthening the firm's reach within Europe, it will also expand its services, attracting more users. In addition, Matrixport’s latest acquisition highlights its commitment to maintaining satisfactory standards amid strict global regulatory standards.
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
Christopher Liu, Matrixport’s Chief Compliance Officer & Head of Regulatory, remarked: "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."
CEFAM's Exploits in the Crypto Space
Before its acquisition by the crypto service providers outlet, the CFAM had been making waves in the crypto space with landmark achievements. Notably, the crypto asset management firm was instrumental in making institutional-grade crypto investment solutions available for users via astute management of the first-ever FINMA-approved crypto fund.
Following its procurement, the CFAM has a new name, Matrixport Asset Management AG (MAM). In addition, Stefan Schwitter, the former head of asset management at CFAM, will become MAM's inaugural Chief Executive Officer (CEO).
Like Matrixport’s Chief Compliance Officer, the newly appointed CEO also spoke on the procurement. However, he expressed excitement about the acquisition and how it could benefit customers. In his exact wordings, he stated, “We are thrilled to join one of the true crypto trailblazers in the digital assets industry. Our complementary strengths will add value to the existing and future client base of Matrixport Group on a global level."
