Purchasing Napoleon Asset Management will enable CoinShares to spread its services into the European Union market.
The digital asset investment firm – CoinShares – received approval from the Autorité des Marchés Financiers to acquire Napoleon Asset Management. The agreement will enable CoinShares to provide Alternative Investment Fund Manager services and Exchange-Traded Products to the European Union market.to purchase the French fintech firm Napoleon Crypto SAS and its subsidiaries.
Jean-Marie Mognetti – Chief Executive Officer of the firm – argued that the cryptocurrency industry must be reinforced with comprehensive regulations. On that note, he assured CoinShares had completed all regulatory procedures before inking the deal.“Bringing the company into our group is a further step in the right direction towards investor protection, We are proud to be one of the most regulated digital asset investment firms in the industry.
For his part, Jean-Charles Dudek – CEO of Napoleon Asset Management – stated that the agreement was much anticipated but “necessarily needed to await consideration by and approval of the change of control by the AMF.” With the given nod, the two entities will strengthen the ties between each other, he added.The decline of the digital asset market has affected multiple firms in the sector, andwas among those.
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