Matrixport acquires Swiss firm Crypto Finance to expand in Europe

Matrixport, a Singapore-based crypto financial services firm, has completed an all-cash acquisition of Crypto Finance, a crypto asset manager in Switzerland, as it seeks to expand its business in Europe.

Matrixport announced in a statement on Monday that Crypto Finance — formerly part of the Deutsche Börse Group-owned Crypto Finance Group — has been renamed Matrixport Asset Management AG. Crypto Finance manages the first crypto fund approved by the Swiss Financial Market Supervisory Authority, according to the release.

“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,” John Ge, co-founder and CEO of Matrixport, said in the statement.

Christopher Liu, chief compliance officer and head of regulatory at Matrixport, also said that the acquisition reflects its “steadfast commitment” toward compliance. The deal has received relevant regulatory approvals and has been completed, the company said.

Matrixport is one of the bigger crypto businesses in Asia and manages about $6 billion in assets under management. It is licensed in Hong Kong as TCSP and money lender, according to the statement.