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French financial regulator approve an ICO-funded company to become investment assets manager in the country.
A France-based investment company named Napoleon is reported to have managed to pass the complicated process required by French financial authority (AMF) to become an asset manager in the country.
Speaking about the process in an interview, COO Arnaud Dartois said that it's pretty challenging to get to the current position. Quoting what he said, “Actually, we have been in touch with the French regulator AMF for over a year, and we have done some lobbying to explain to them the importance to be very proactive on crypto and blockchain, and the hold that France can have to lead it.”
That said, all the works eventually pay off as with the approval, Napoleon can now officially offer their services to institutional traders everywhere.
Investors can utilize from AI-powered NapoleonX.ai that provides quantitative strategies on Bitcoin and Ethereum investment, as well as its main global stock market indices.
Moreover, the company is looking to launch Napoleon Index on a public blockchain next year for their targeted institutional traders and investors market, which is still waiting for full regulatory approval at the moment.
The approval is another "braggable" achievement of the company after successfully managed to raise more than $13 million from an ICO 9 months ago, as reported by CCN.