Matrixport platform expands in Europe
October 01, 2024
The cryptocurrency financial services platform Matrixport has announced its expansion into the European market by acquiring the Swiss company Crypto Finance Asset Management (CFAM), which manages digital assets.
The Deal and acquisition details
The Singapore-based company Matrixport completed the acquisition of CFAM, paying with fiat funds. Prior to the sale, CFAM was part of the Crypto Finance Group (CFG), which is owned by Deutsche Börse Group.
After the completion of the transaction, Matrixport rebranded the acquired company, renaming it to Matrixport Asset Management (MAM). The new division will specialize in providing crypto investment solutions for institutional clients and will continue its operations in Switzerland.
Regulatory approvals
According to Matrixport, the agreement received all the necessary regulatory approvals, including approval from the Swiss Financial Market Supervisory Authority (FINMA).
The CEO of MAM expressed delight in joining Matrixport, emphasizing that shared resources and expertise will help create additional value for clients.