Matrixport grows European activities by purchasing a Swiss cryptocurrency company
Acquiring Swiss asset manager Crypto Finance Asset Management (CFAM), Matrixport, a bitcoin financial services platform located in Singapore, has grown in presence in Europe. Approved this all-cash transaction by the Swiss Financial Market Supervisor Authority (FINMA), therefore guaranteeing complete regulatory compliance.
Matrixport has renamed the Swiss division as Matrixport Asset Management (MAM), which will go on providing premium institutional crypto investing solutions as part of the purchase. Previously a member of the Crypto Finance Group of Deutsche Börse Group, MAM will concentrate on providing clients with creative and legal crypto investment options.
#Bitcoin’s #bullish trajectory is projected to reach $63,140 by April 2024 and $125,000 by year-end. Our report attributes this to historical trends, mining reward halving, and favorable geopolitical and macroeconomic factors, anticipating a sustained three-year #bullmarket.… pic.twitter.com/VE1KHeKFaA
— Matrixport Official English (the only official X) (@Matrixport_EN) December 1, 2023
Stefan Schwitter has been named CEO of MAM. Schwitter said he was excited about working with Matrixport as the two companies’ combined capabilities would value customers worldwide.
Overseeing the first regulated crypto fund in Switzerland, CFAM was notably the first crypto asset manager there to get clearance from FINMA. Matrixport’s emphasis on growing its core business in trading, custody, and staking services throughout Switzerland, Germany, and more general European markets will remain, nevertheless, following the purchase.
Managing $6 billion in assets, Matrixport, which was founded in 2019, has rapidly become a prominent participant in the bitcoin market. Having a workforce of 290 people and presence in more than 40 countries, the firm keeps extending its products; this new purchase will be very important for its European expansion plan.
Global View of Matrixport
With its strategic actions in Europe, Matrixport seeks to introduce innovative crypto investment solutions to institutional clients, therefore reinforcing their objective. Getting Crypto Finance Asset Management fits Matrixport’s larger goal of providing clients all over with compliant, creative solutions. With its Swiss unit rebranded and ongoing emphasis on controlled crypto funds, Matrixport is positioned to keep leading in the worldwide digital asset market.
Matrixport is still dedicated to provide more services, especially in the European market where the need for safe and regulated crypto asset management solutions is fast rising ahead.
