Matrixport, a Singapore-based cryptocurrency financial services platform, has acquired Crypto Finance Asset Management (CFAM), a Swiss crypto asset manager.

Formerly part of Deutsche Börse-owned Crypto Finance Group, CFAM has been renamed Matrixport Asset Management (MAM).

The acquisition, which received regulatory approval from the Swiss Financial Market Supervisory Authority (FINMA), strengthens Matrixport’s position in the European market.

The newly acquired entity will continue to offer institutional-grade crypto investment solutions, including the first FINMA-approved crypto fund and a range of investment products.

Stefan Schwitter, former head of asset management at CFAM, will lead MAM as CEO.

John Gee, co-founder and CEO of MatrixSport said,

“We are delighted with the establishment of MAM and welcome the team to the Matrixsport family.

The acquisition enables clients to access the most innovative, compatible crypto asset management products, and aligns with our strategy to further expand services in Europe.”

Stephen Schutter, CEO of Matrixport Asset Management, added,

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

Our complementary strengths will add value to MatrixSport Group’s current and future client base globally.

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