CoinShares Acquires French Crypto Asset Manager Napoleon AM

CoinShares previously agreed to acquire the entire issued share capital of Napoleon Crypto SAS for $14.5 million in November 2021.< /p> New

Leading European digital asset manager CoinShares completes acquisition of French fintech firm Napoleon Group despite continued market decline.

CoinShares announced on July 4 that the company had acquired Napoleon Asset Management, a digital asset management subsidiary of Groupe Napoleon.

CoinShares previously entered into a sale and purchase agreement (SPA) to acquire the entire issued share capital of Napoleon Crypto SAS for €13.9 million ($14.5 million) in November 2021.

The latest acquisition came shortly after the French financial regulator, the Autorité des marchés financiers (AMF), cleared the acquisition of Napoleon AM on June 28. CoinShares then proceeded with the transaction in accordance with the terms set out in the group's SPA on June 2022.

Paris-based Napoleon AM was launched after completing an initial coin offering (ICO) in late 2018, raising over $10 million through the sale of NPX tokens. The company has obtained the approval of alternative investment fund manager (AIFM) and has become one of the first European asset managers to be financed by an ICO and under French law.

At the end of 2019, Napoleon AM launched a regulated Bitcoin (BTC) fund, the Napoleon Bitcoin Fund.

The acquisition of Napoleon AM enables CoinShares to offer AIFM-compliant products and services in addition to being a major issuer of exchange-traded crypto products in Europe. The license allows the company to provide market services throughout the European Union, expanding CoinShares' products with algorithmic and artificial intelligence trading tools developed by Napoleon AM.

The deal...