Matrixport’s Strategic Acquisition of Crypto Finance: An Overview
- Matrixport finalized its all-cash acquisition of Crypto Finance (Asset Management) AG on September 30, 2024.
- The Crypto Finance unit has been rebranded as Matrixport Asset Management AG (MAM).
- With $6 billion in assets under management, Matrixport aims to enhance its presence in the European market.
Matrixport, a leading provider of cryptocurrency financial services, successfully acquired Crypto Finance (Asset Management) AG, a notable investment solutions firm based in Switzerland. This unit was part of the Crypto Finance Group, which is backed by the Deutsche Börse Group.
As announced on September 30, Matrixport’s acquisition involves a complete cash transaction, with the Swiss-licensed Crypto Finance Asset Management being renamed to Matrixport Asset Management AG.
Christopher Liu, Matrixport’s chief compliance officer and head of regulatory affairs, emphasized that “This acquisition not only expands our regulatory footprint in Switzerland but also demonstrates our ongoing commitment to collaborating with regulators to enhance existing and upcoming virtual asset regulations.”
Matrixport Poised for Growth in Europe
The newly formed entity will provide a range of crypto investment solutions, including a groundbreaking crypto fund that has received regulatory approval from FINMA, the Swiss financial markets authority. Matrixport perceives this as a launchpad for broader European operations.
John Ge, co-founder and CEO of Matrixport, remarked, “This acquisition allows our clients to access cutting-edge, compliant crypto asset management products and aligns with our strategy for expanded service offerings in Europe.”
Stefan Schwitter, who previously served as the head of asset management at Crypto Finance, has been appointed the CEO of Matrixport Asset Management.
Founded in 2019 by renowned crypto entrepreneur Jihan Wu, Matrixport operates under a money lending license in Hong Kong and is registered as a money services business in the United States. The firm manages $6 billion in assets and has recently introduced a real-world assets platform named Matrixdock, alongside a new gold-backed token on the Ethereum and BNB Chain.