Matrixport, Singapore-based crypto firm, expanded its presence in Europe by acquiring Crypto Finance (Asset Management) AG. Renamed as Matrixport Asset Management AG (MAM), the unit will provide institutional-grade crypto investment products and services, including the management of the first FINMA-regulated crypto fund.
According to an official press release on Monday, the all-cash takeover deal is a major development for Matrixport. Crypto Finance, previously a part of the Deutsche Börse Group, is a licensed Swiss crypto asset manager. With this gain, it seeks to establish a foothold in Europe’s increasingly popular digital asset market.
With this acquisition, Matrixport acquired improved crypto structuring and regulation knowledge. Further, it expands its delivery of a wide range of compliant crypto products and services for institutions. John Ge, the co-founder and CEO of Matrixport, stated,
“The acquisition enables clients access to the most innovative, compliant crypto asset management products and aligns with our strategy to further expand services in Europe.”
The Switzerland Financial Market Supervisory Authority (FINMA) has accredited the firm, implying that the company is under the operations of the European regulations. Matrixport focuses on incorporating Crypto Finance’s strong resources in regulation and institutional services.
Singapore Joins Global Digital Asset Alliance with Japan, Switzerland, and UKThis will strengthen its position not only in the European market but also internationally. The acquisition is a witness, implying that Europe is fast becoming a hotspot for the digital assets industry after the United States.
Established in 2019, Matrixport has been expanding fast and has amassed more than $6 billion to manage through its platforms and trade. It highlights the focus on creating new, compliant solutions in the developing crypto space. It aims to position Matrixport as a major contributor to crypto management firms.
