France gets first crypto assets manager from eToro and Napoleon
eToro, the cryptocurrency trading platform, has partnered up with Napoleon Group to launch NapoleonX, the first regulated cryptocurrency asset manager in France.
In the announcement, NapoleonX, a CopyPortfolio, can balance the ability of many hedge funds, trading outfits, and market makers. This functionality allows funds managers to apply their proprietary algorithms to funds accessible by themselves and retails investors.
Smart contract functionality contained within NapoleonX’s platform also allows these funds to bridge the gaps that currently exist between asset classes, resulting in unique opportunities for cryptocurrency investors. Yoni Assia, the eToro CEO, stated:
“I am delighted that asset managers like Napoleon Group want to work with eToro via our range of Partner CopyPortfolios. It is about making it as easy as possible for investors to tap into the strategies of professional asset managers and traders.”
This partnership will ensure members in the crypto community receive a substantial amount of help in managing their assets and ensure adherence to rules and regulations. The CEO of Napoleon Group, Stephane Ifrah, added:
“Crypto markets are volatile, and this might be off-putting for some investors, that’s why we are eager to share our solutions with more people. Our strategy, historically, has enabled people to participate in the crypto bull run while limiting the downside in more turbulent markets.”
eToro seems to be taking the right steps in growing its crypto community. In March, the company expanded its crypto operation to the US. The trading platform, with over 10 million registered users launched a platform and a crypto wallet for residents in the US. Initially, the company was only offering services to residents in Europe
During the launch, Assia explained:
“Americans users can collaborate with other crypto users when buying and selling. Users can adjust their trading strategies by watching and learning from others on the platform. as a platform eToro acts as a bridge between the old world of investing and a blockchain-powered future. It helps our users navigate and benefit from the transition to cryptoassets for wealth building. People create the eToro experience, and now Americans will play a major role in shaping our community and future. “
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