00:00Welcome back to Decentralized News. So it has come out that CoinShares has bought regulated crypto firm Napoleon, which is a move that is set to open the doors to fund sales across the European Union.
00:17And the deal is said to have concluded nearly seven months of consultation was done with the regulators and following this acquisition in December.
00:30And they say that the purchase of Napoleon Asset Management could help CoinShares expand their product range.
00:38And according to the CEO, their regulator status is is in a growing number of jurisdictions is one of their key strengths.
00:50So sort of positioning themselves to be regulator friendly.
00:55And hopefully this will work out well for them as they is expected to be a rollout of oncoming regulations across the crypto sector.
01:06And this is both in the US and the EU and most likely across the globe as well.
01:15So digital asset investment firm CoinShares itself has wrapped up its acquisition of the EU regulated crypto company,
01:22opening the door for the firm to market its products now and the services in the European Union.
01:29Following the receipt of approval from the French financial regulator, AMF CoinShares has actually picked up Napoleon Asset Management,
01:40one of the first digital asset managers regulated under Block's Alternative Investment Fund Managers Directive, which is AIFM.
01:50And the acquisition is said to bolster CoinShares and their offerings by leveraging algorithmic trading investment strategies and artificial intelligence developed by Napoleon, the firm did state.
02:04And that move also follows also allows CoinShares to pursue its ambitions to become a full service digital investment and trading group operating within a strong regulatory framework.
02:20As a licensed company under the AIFM regulation, Napoleon is authorized to conduct business in other EU member states through what is known as passporting.
02:33So once regulated by EU member states, passporting allows a firm registered in the European Economic Area to operate in another state without the need for further authorization from national regulators.
02:47And the deal concludes seven months of consultation with the regulator following Jersey based coinshares and their acquisition in December.
02:58And, you know, they entered into a sale and purchase agreement to acquire the entirety of Napoleon and its subsidiaries for 14 and a half million.
03:09The transaction was completed a little over two weeks after that, whereby it awaited approval from the French regulator.
03:19The very interesting thing about Napoleon is I remember when they first sort of came out, I think this was around 2017.
03:25I actually did a couple of articles for them where they were talking about kind of, you know, their algorithmic bots and things like that.
03:37And it's quite interesting to know that, you know, they're still around.
03:41I completely lost track of what the company had been doing after that because that was pretty much in the during the ICO era.
03:48And, yeah, it's good to see that, you know, they actually kind of followed through on what their vision was back in that time.
03:56And now they've managed to, you know, do a successful acquisition.
04:00And, yeah, you know, this is quite interesting that, you know, companies like Coinshares are starting to make these sort of smart maneuvers to gain market share and to bring crypto exposure to Europe in very welly ways.
04:21So let me know what you guys think.
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