Crypto Finance Sold Its Swiss Asset Management Arm to Singapore-Based Matrixport in All-Cash Deal

Matrixport Expands Reach with Acquisition of Crypto Finance’s Asset Management Division

Crypto Finance has sold its (Asset Management) AG to Matrixport, a prominent Singapore-based digital asset platform, in an all-cash deal.

This move, which transitions the asset management unit to operate under the new name Matrixport Asset Management AG, comes in the wake of increasing demand for innovative and compliant crypto investment solutions.

With over 290 employees, Matrixport is poised to enhance its services across more than 40 countries, solidifying its presence in the rapidly evolving digital asset landscape.

What Does This Acquisition Mean for Clients?

John Ge, co-founder and CEO of Matrixport, expressed enthusiasm about the acquisition, stating,

“We are delighted with the establishment of Matrixport Asset Management and warmly welcome the team to the Matrixport family.”

John Ge, co-founder and CEO of Matrixport

He further elaborated on the implications for clients, indicating that this transition enables continuous access to innovative, compliant crypto asset management products.

The strategic integration aims to align with Matrixport's vision of expanding services within Europe, an area ripe with opportunity as institutional interest in cryptocurrencies continues to grow.

Crypto Finance's Legacy: A First in the Industry

Crypto Finance (Asset Management) has made history as the first manager of collective crypto assets approved by the Swiss Financial Market Supervisory Authority (FINMA).

This milestone led to the launch of Switzerland's first regulated crypto fund, establishing CFAM as a trailblazer in institutional-grade crypto investment solutions.

Stijn Vander Straeten, CEO of Crypto Finance, remarked,

“While asset management is a very valuable business area, our strategy lies in trading, custody, and staking as well as other post-trade services.”

Stijn Vander Straeten, CEO of Crypto Finance

This focus shift allows Crypto Finance to concentrate on enhancing its core offerings in the digital asset ecosystem across Switzerland, Germany, and other European markets.

How Will Matrixport Enhance Its Regulatory Framework?

With the acquisition, Matrixport is set to expand its regulatory footprint in Switzerland significantly.

Christopher Liu, Matrixport’s chief compliance officer and head of regulatory, stated,

“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.”

Christopher Liu (right), Matrixport’s chief compliance officer and head of regulatory, at ALB Pan Asian Regulatory Awards 2024 with an awardee.

This focus on regulatory compliance not only enhances Matrixport’s market leadership in crypto asset management but also reassures clients of the firm’s commitment to adhering to local regulations.

Matrixport’s Vision for European Markets

As Matrixport Asset Management AG integrates into the Matrixport ecosystem, the new entity will provide a range of crypto investment solutions, including the first crypto fund to gain regulatory approval from FINMA.

The acquisition represents more than just a new name; it serves as a gateway for Matrixport into the European market, offering clients access to innovative financial products designed to meet the complexities of today’s digital economy.

John Ge’s statement about the acquisition aligning with their strategy for European expansion highlights the firm’s proactive approach to navigating the changing regulatory landscape.

Leadership Transition: A Strong Future Ahead

Stefan Schwitter, who previously led asset management at CFAM, has been appointed CEO of Matrixport Asset Management.

Schwitter expressed excitement about the new chapter, stating,

“We are thrilled to join one of the true crypto trailblazers in the digital assets industry.”

Stefan Schwitter being appointed as the CEO of Matrixport Asset Management

His leadership is expected to leverage the complementary strengths of both firms, enhancing value for Matrixport’s global client base.

The successful integration of CFAM into the Matrixport framework reaffirms the firm’s commitment to maintaining a leadership position in the crypto asset management space.

A Snapshot of Matrixport’s Financial Standing

Founded in 2019 and co-founded by crypto entrepreneur Jihan Wu, Matrixport has established itself as a leading hub for all-in-one crypto financial services, boasting $6 billion in assets under management.

The firm operates with various licences, including money lending in Hong Kong and registration as a money services business in the United States.

Its recent innovations, including a real-world assets platform called Matrixdock and a new gold-backed token on Ethereum and BNB Chain, underscore its commitment to offering diverse financial solutions tailored for optimal capital efficiency and sustainable returns.

Through this acquisition, Matrixport is not only reinforcing its position in the crypto financial services landscape but also setting the stage for future growth and innovation in a sector characterised by rapid change and expansion.