Synthetix Network (snx) 
Singapore-based crypto financial services platform Matrixport has acquired the asset management unit of Crypto Finance AG.
On Sept. 30, Matrixport announced in a press release that they have completed an all-cash acquisition of the Switzerland-based Crypto Finance Asset Management, the asset management unit of Crypto Finance AG.
Matrixport’s Chief Compliance Officer & Head of Regulatory, Christopher Liu, remarked that the acquisition will expand their “regulatory footprint” into Europe and that it reflects the firm’s “steadfast commitment towards continually collaborating with regulators to review existing regulations and refine virtual assets specific regulations in the years to come.”
He also added that all transactions related to the deal have been pre-approved by the country’s financial regulator, Swiss Financial Market Supervisory Authority.
Previously a unit operating under the Deutsche Börse Group-owned Crypto Finance Group, CFAM will be renamed to Matrixport Asset Management. After the acquisition, CFAM’s previous head of asset management, Stefan Schwitter, has also been appointed CEO of Matrixport Asset Management.
“Our complementary strengths will add value to the existing and future client base of Matrixport Group on a global level,” said Schwitter in the press release.
Following the acquisition, Co-Founder & CEO of Matrixport John Ge stated that the two firm’s “complementary strengths will add value to the existing and future client base of Matrixport Group on a global level.”
CFAM offers institutional-grade crypto investment solutions, managing the Crypto Fund AG while offering a number of different crypto investment products and providing structuring capabilities.
In May 2022, Crypto Fund AG became the first crypto firm to be awarded an asset manager license from FINMA. The Zug-based crypto firm was recognized as an asset manager under the Collective Investment Schemes Act. The license also gave Crypto Fund AG jurisdiction to advise institutional investors and serve various traditional investors.
Meanwhile, Matrixport is a member of Switzerland’s FINMA self-regulatory organization VFQ. With $6 billion in asset management, the firm operates as an Appointed Representative in the UK and is registered as a Money Services Business in the US.
Encourage readers to explore more news on Global Crypto News.
#CryptoInvestment #CryptoCommunity #BearMarket
