Matrixport debuted its all-cash acquisition of Crypto Finance (Asset Management) AG on September 30, 2024.
Matrixport, a provider of crypto financial services, has successfully acquired Crypto Finance (Asset Management) AG, a Swiss-based provider of crypto investment solutions. Before its acquisition by the Deutsche Börse Group, the CFAM entity was a subsidiary of the Crypto Finance Group.
Matrixport Asset Management AG will replace the Swiss-licensed CFAM as a result of the all-cash-deal purchase of CFAM, which was announced on September 30.
“The acquisition extends our regulatory reach in Switzerland and showcases our unwavering dedication to working closely with regulators to assess current rules and improve regulations pertaining to virtual assets going forward,” stated Christopher Liu, chief compliance officer and head of regulatory at Matrixport.
The new entity will provide crypto investment solutions and products, including the first crypto fund to acquire regulatory sanction from Swiss financial markets regulator FINMA. In addition to this, Matrrixport regards MAM as its entry point into Europe. FINMA and all pertinent regulatory and compliance agencies have approved the agreement, as indicated in the press release.
Matrixport’s co-founder and CEO, John Ge, stated in a statement that the acquisition will provide clients about access to the most innovative and compliant crypto asset management products, and it is consistent with the company’s strategy to further extend its services in Europe.
Matrixport Asset Management’s new CEO is Stefan Schwitter, who was formerly CFAM’s head of asset management.
Founded in 2019 by crypto tycoon Jihan Wu, Matrixport is a money lender in Hong Kong and holds a licence. Registered as a money services business in the United States, it is also.
In the present day, the organisation manages $6 billion in assets and has recently introduced Matrixdock, a real-world asset platform. Additionally, it introduced a new gold-backed token on the BNB Chain and Ethereum.
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