Stefan Schwitter, the former head of Crypto Finance AG, has been appointed as the CEO of Matrixport Asset Management, aiming to leverage the combined expertise of both firms for global clients.

This acquisition is part of Matrixport's strategy to expand its presence in Europe and enhances its footprint in the region.

Stefan Schwitter expressed excitement about joining Matrixport, highlighting the complementary strengths that will benefit clients globally.

Crypto Finance AG was previously part of the Crypto Finance Group, which is owned by Deutsche Börse Group.

Matrixport, a cryptocurrency financial services platform based in Singapore, has announced the all-cash acquisition of Crypto Finance AG, a Swiss-based crypto asset manager, on September 30.

Following the acquisition, Crypto Finance AG has been rebranded as Matrixport Asset Management AG (MAM).

The acquisition has received all necessary regulatory approvals, including from the Swiss Financial Market Supervisory Authority (FINMA), which oversees financial markets in Switzerland.

Matrixport Asset Management AG will focus on providing institutional-grade digital asset investment solutions, including the first FINMA-approved crypto fund.

In addition to this acquisition, Matrixport recently launched a real-world assets platform called Matrixdock and introduced a new gold-backed token on Ethereum and BNB Chain.

Currently, Matrixport manages $6 billion in assets, underscoring its significant presence in the crypto financial services sector.

The acquisition reflects Matrixport's commitment to collaborating with regulators on virtual asset regulations.

Christopher Liu, Matrixport's Chief Compliance Officer, emphasized the firm's dedication to refining regulations for digital assets.