'The bear market is an opportunity to solidify positions and build new products and services,' CoinShares CEO Jean-Marie Mognetti said.
Major European digital asset manager CoinShares is finalizing the acquisition of the French fintech firm Napoleon Group despite the ongoing market decline.on July 4 that the firm has acquired Napoleon Asset Management, a digital asset management subsidiary of Napoleon Group.into a sale and purchase agreement to acquire the entire issued share capital in Napoleon Crypto SAS for 13.9 million euros in November 2021.
The latest acquisition came shortly after the French financial regulator, Autorité des Marchés Financiers , authorized the acquisition of Napoleon AM on June 28. CoinShares subsequently proceeded with the transaction pursuant to the terms set out in the group SPA on June 2022.over $10 million through the sale of NPX tokens.
The transaction is yet another piece of evidence that CoinShares continues scaling despite the ongoing market decline, CoinShares CEO Jean-Marie Mognetti told Cointelegraph, stating: “CoinShares continues to grow despite market conditions. The bear market is an opportunity to solidify positions and build new products and services.”
According to the CEO, having an AIFM-regulated entity in CoinShares’ group is important because it’s “one of the most demanding licenses.”
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