Originally published on: September 30, 2024
In a bid to strengthen its foothold in Europe, cryptocurrency financial services platform Matrixport has made a significant move by acquiring Swiss crypto asset manager Crypto Finance. This strategic acquisition marks a pivotal moment for Matrixport, enabling it to expand its presence and offer institutional-grade crypto investment solutions to a broader market.
The acquisition, completed in an all-cash deal, sees Crypto Finance Asset Management (CFAM) rebranded as Matrixport Asset Management (MAM), operating as a Switzerland-based unit of Matrixport. The transaction has garnered all necessary regulatory approvals, including the green light from the Swiss Financial Market Supervisory Authority (FINMA).
With this acquisition, Matrixport has inherited a team of seasoned professionals from CFAM, led by the newly appointed CEO Stefan Schwitter. The addition of this talented team will complement Matrixport’s existing capabilities, enhancing its product development and distribution channels.
CFAM, known for its pioneering role as the first manager of collective crypto assets approved by FINMA, will now refocus on its core business as a shop service and infrastructure provider. This strategic realignment allows CFAM to concentrate on trading, custody, staking, and other post-trade services within the digital asset ecosystem in Switzerland, Germany, and across European markets.
Matrixport, established in 2019 in Singapore, has emerged as a key player in the cryptocurrency industry, overseeing assets worth $6 billion. With a global workforce exceeding 300 employees and operations in over 40 countries across three continents, including key locations in Singapore, Hong Kong, Zurich, London, and New York, Matrixport is poised for further growth and expansion.
While Matrixport offers asset management and financial intermediary services in Switzerland, it also operates as a Financial Conduct Authority (FCA)-licensed appointed representative in the UK, catering to institutional client investment advisory needs in the region.
Despite its global reach, Matrixport restricts services to customers from certain jurisdictions, including mainland China, Hong Kong, Singapore, the United States, Canada, and others. This restrictive policy ensures compliance with regulatory requirements and enhances the platform’s overall security and stability.
In addition to its core services, Matrixport provides valuable insights through digital asset investment research for its clients. Notable predictions from Matrixport analysts, such as Bitcoin trading at $125,000 by the end of 2024, showcase the platform’s commitment to delivering timely and accurate market projections.
As Matrixport continues to solidify its position as a leader in the cryptocurrency industry, the acquisition of CFAM underscores its strategic vision and commitment to providing innovative investment solutions to clients worldwide. Stay tuned for more updates on Matrixport’s expansion and market insights.
