Switzerland’s Crypto Finance has sold its asset management arm to a Singapore-based digital asset platform.
Crypto Finance has sold its asset management entity to Matrixport, according to a statement. Moving forward, Crypto Finance (Asset Management) will operate under the name Matrixport Asset Management.
Matrixport is a Singapore-based crypto financial services platform where users can earn, invest, trade, loan and buy crypto assets. It has over 290 employees serving customers in more than 40 countries.
«We are delighted with the establishment of Matrixport Asset Management and warmly welcome the team to the Matrixport family,» commented Matrixport co-founder and CEO John Ge. «The acquisition enables clients continuous access to the most innovative, compliant crypto asset management products, and aligns with our strategy to further expand services in Europe.»
First FINMA-Approved Crypto Manager
Crypto Finance (Asset Management) was the first manager of collective crypto assets approved by the Swiss Financial Market Supervisory Authority (FINMA) which led to its management of Switzerland's first regulated crypto fund. Following the sale, Crypto Finance will focus on its core business as a one-stop shop service and infrastructure provider.
«While asset management is a very valuable business area, our strategy lies in trading, custody, and staking as well as other post-trade services. This move allows us to put all our focus on expanding our core services within the digital asset ecosystem in Switzerland, Germany and across the European markets,» said Crypto Finance CEO Stijn Vander Straeten.
