CoinShares takes over crypto asset management arm of Napoleon Group

CoinShares takes over crypto asset management arm of Napoleon Group

Leading digital asset manager, CoinShares has signed an acquisition deal with French fintech firm Napoleon Group, despite current market decline.

CoinShares announced the acquisition of the digital asset management subsidiary of the Napoleon Group, Napoleon Asset Management (Napoleon AM), after securing authorization from the French financial regulator Autorité des Marchés Financiers (AMF) last week.

CoinShares then proceeded with the transaction subject to the terms standardized by the group sales and purchase agreement (SPA) last month.

Launched in late 2018 after an Initial Coin Offering (ICO), Paris-based Napoleon AM entered the market with a solid $10 million backing through the sale of NPX tokens and has secured the AIFM (Alternative Investment Fund Manager) license.

With this, the company came to be known as one of the first asset managers in Europe to be backed by an ICO and incorporated under French law followed by the launch of a regulated Bitcoin (BTC) fund called the Napoleon Bitcoin Fund in late 2019.

According to CoinShares CEO Jean-Marie Mognetti, integrating an AIFM-regulated company into their group is of crucial importance since it is one of the most demanding licenses in the market.

Thanks to the Napoleon AM acquisition, CoinShares can provide an AIFM-compliant suite of products and services expanding its business expertise from being a leading provider of crypto exchange-traded products in Europe.

Not only will the license enable CoinShares to offer market services throughout the EU, but it will also help the firm extend its product portfolio to include Napoleon AM’s artificial intelligence (AI) based tools and algorithmic trading.

The latest transaction underpins CoinShares commitment to ramp up its offering despite the ongoing market decline, as emphasized by Mognetti stating that the company considers the current scenario to be a major opportunity to strengthen its position and create new products & services.

The firm’s pursuit of Napoleon is not new to the industry. Earlier in November 2021, CoinShares inked a SPA with the crypto firm to take over the target share capital for $14.5 million in Napoleon Crypto SAS.

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