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CoinShares Acquires Crypto Investment Provider Napoleon for $15.7M
The transaction is expected to be completed this month.
Updated May 11, 2023, 5:51 p.m. Published Dec 1, 2021, 9:52 a.m.
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Digital asset manager CoinShares agreed to buy French crypto investment product provider Napoleon Crypto SAS for €13.9 million ($15.7 million) in cash and stock.
- CoinShares will issue 363,636 new shares at €10.80 ($12.25) each to complete the deal, the company announced Wednesday.
- The deal is expected to be completed in the second week of December.
- Napoleon provides prebuilt, noncustodial crypto portfolios catering to different investment goals. The portfolios are integrated with such exchanges as Binance, Bitfinex, Bitstamp and FTX.
- Jersey-based CoinShares trades on the Nasdaq First North Growth Market. Its assets under management stood at £2.9 billion ($3.9 billion) at the end of September.
Read more: Invesco India and CoinShares to Launch ‘Feeder Fund’ of Blockchain Stocks
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South Korea’s Hanwha makes a $13 million bet on ‘seedless’ crypto wallets
The South Korean financial firm backs the U.S.-based blockchain company to accelerate enterprise wallet technology and real-world asset tokenization.
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- Kresus has secured roughly $13 million (KRW 18 billion) from Hanwha Investment & Securities.
- The funding will support enterprise wallet infrastructure and real-world asset (RWA) tokenization platforms.
- The deal signals continued institutional investment in blockchain infrastructure despite uneven crypto markets.
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