Cryptocurrency firm Coinshares has announced expansion plans with the acquisition of French fintech company Napoleon. According to Coinshares, the latest acquisition deal is part of an integral part of the company’s growth strategies.
The deal is expected to be completed during the second week of December, as Napolean and its team will be integrated into CinShares. The acquisition deal will enable Napoleon to take advantage of the size and scale of Coinshare’s wider market reach.
Napoleon enables self-directed investors to have a better cryptocurrency investment experience by accessing several pre-built strategies and portfolios that cater to different investment objectives.
Napoleon was launched in 2017 and became one of the top platforms for the French investment community.
The Acquisition Deal Is Worth €13,930,427
The sale and purchase agreement was made on 30 November 2021 by CoinShares International Limited to buy Napoleon crypto for a total of €13,930,427. The agreement terms also noted that Coinshares will be making payments for the acquisition deal through partial equity swap and cash.
General Manager of Napoleon Group, JC Dude, commented on the deal. He noted that Napoleon Group is happy to associate with Europe’s most active crypto traders communities via its integration into CoinShares. The acquisition will enable the firm to accelerate the growth of its platform, ensuring scalability in products and processes, JC Dude noted.
Coinshares Building A Strong Crypto Community
CoinShares has been very busy in the market lately. Earlier this month, the platform received approval for its application to start trading on OTCQX Market in the US.
Chief Executive Officer of Coinshares, Jean-Marie Mognetti, also commented on the acquisition deal.
“Crypto is about community, and over the last seven years, CoinShares has built a fantastic one,” she stated.
Mognetti added that the company needs to keep developing its ability to distribute its research, products, and expertise directly to clients through the most appropriate channel. With the integration of Napoleon to the Coinshares platform, clients can link their exchange account to the thematic algorithm platform, baskets, and trading strategies. These are designed to provide a better risk-adjusted benefit according to the customer selected risk profile.