As a seasoned researcher with a keen interest in the dynamic world of cryptocurrencies and financial services, this news about Matrixport’s acquisition of Crypto Finance AG’s asset management unit piqued my curiosity. Having followed both companies for quite some time now, I can see the potential synergies that this merger could bring.
In a recent development, Matrixport, a digital asset financial services provider based in Singapore, has acquired the asset management division of Crypto Finance AG.
On September 30th, as stated in a press announcement, Matrixport finalized a full purchase of the Swiss-based Crypto Finance Asset Management, which is the asset management sector of Crypto Finance AG, using only cash.
Matrixport’s Chief Compliance Officer and Head of Regulation, Christopher Liu, stated that the acquisition would broaden their regulatory presence into Europe. This move signifies the company’s unwavering dedication to working closely with regulators for the purpose of reassessing current regulations and refining those specifically related to virtual assets in the coming years.
Additionally, he mentioned that every financial transaction connected to this agreement had already received prior approval from Switzerland’s financial regulatory body, known as the Swiss Financial Market Supervisory Authority.
Earlier, CFAM (Crypto Finance Asset Management) was a part of the Deutsche Börse Group-owned Crypto Finance Group. However, it will now be known as Matrixport Asset Management. Following the acquisition, Stefan Schwitter, who previously led asset management at CFAM, has been appointed as CEO of MAM (Matrixport Asset Management).
In the press release, Schwitter stated, “The combined abilities of our teams will enhance the worth of Matrixport Group’s current and prospective clients worldwide.
After the acquisition, John Ge, Co-Founder & CEO of Matrixport, expressed that the combined abilities of both firms will enhance the value of Matrixport Group’s current and future clients worldwide.
CFAM provides high-quality cryptocurrency investment opportunities, managing the Crypto Fund AG and offering various crypto investment options, along with the ability to create customized investment structures.
In May 2022, Crypto Fund AG was the pioneer to receive an asset management license from FINMA (Swiss Financial Market Supervisory Authority).
Based in Zug, the cryptocurrency company received designation as an asset manager under the Collective Investment Schemes Act. This license also granted Crypto Fund AG authority to counsel institutional investors and cater to numerous traditional ones.
Currently, Matrixport belongs to a Swiss self-governing financial organization known as VFQ, which is overseen by FINMA. Managing assets worth approximately $6 billion, this company functions as an Appointed Representative within the UK and is registered as a Money Services Business in the United States.
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2024-09-30 11:38