CoinShares acquires French crypto asset manager Napoleon
Napoleon Crypto Asset Management
Modified Date:- Published Date:-Categories: Cryptocurrency
CoinShares acquires French crypto asset manager Napoleon
Leading European digital asset manager CoinShares is finalizing its acquisition of French fintech firm Napoleon Group, despite the ongoing market slump. CoinShares announced on July 4 that the firm has acquired Napoleon Asset Management, the digital asset management subsidiary of Napoleon Group.
Major European digital asset manager CoinShares is finalizing the acquisition of the French fintech firm Napoleon Group despite the ongoing market decline. CoinShares announced on July 4 that the firm has acquired Napoleon Asset Management, a digital asset management subsidiary of Napoleon Group. CoinShares previously entered into a sale and purchase agreement (SPA) to acquire the entire issued share capital in Napoleon Crypto SAS for 13.9 million euros ($14.5 million) in November 2021.
The latest acquisition comes soon after the French financial regulator, the Autorit des Marches Financiers (AMF), authorized the acquisition of Napoleon AM on 28 June. CoinShares subsequently proceeded with the transaction in June 2022 as per the terms set out in the Group SPA. Paris Napoleon AM was launched in late 2018 after completing an initial coin offering (ICO), raising over $10 million through the sale of NPX tokens.
The firm has obtained an Alternative Investment Fund Manager (AIFM) license and has become one of the first European asset managers to be funded by an ICO and incorporated under French law. “CoinShares has always been at the forefront of regulation, is a strong proponent of regulation in the digital asset industry and has an extensive list of regulated products and services,” said Mognetti.
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