CoinShares is settling the acquisition of the French fintech firm Napoleon Group despite the ongoing market decline.
The company announced on that the firm has acquired Napoleon Asset Management, a digital asset management subsidiary of Napoleon Group.
The acquisition came shortly after the French financial regulator, Autorité des Marchés Financiers authorized the acquisition of Napoleon AM on June 28th. CoinShares afterwards proceeded with the transaction pursuant to the terms set out in the group SPA on June 2022.
Napoleon AM was launched after completing an Initial Coin Offering in late raising over $10 million through the sale of NPX tokens. The firm has received the Alternative Investment Fund Manager license and became one of the first European asset managers to be financed by an ICO and incorporated under French law.
The acquisition of Napoleon AM allows CoinShares to offer AIFM compliant products and services, in addition to being a major issuer of crypto exchange-traded products in Europe. The license enables the firm to provide market services across the European Union, expanding CoinShares’ products with algorithmic trading and artificial intelligence tools developed by Napoleon AM.
