CoinShares increases its stake in FlowBank, the Swiss online bank targeting trading enthusiasts, facilitating increased digital asset exposure through its proprietary technology platform.
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In the fall of 2021, FlowBank announced that its new shareholder, CoinShares International, acquired a stake of 9.02% in FlowB Holding which owns 100% of FlowBank. Under an agreement executed on March 14, 2022, and following the approval of the Swiss Financial Market Supervisory Authority, today CoinShares acquired a 20.28% stake in FlowBank.
CoinShares is a pioneer in the space of digital assets, enabling exposure to this new asset class for investors on traditional exchanges. The firm’s strategic investment in FlowBank brings together two trusted players in their respective markets and is a sign of industry transformation, which will benefit investors in Switzerland and beyond. Following the investment, Jean-Marie Mognetti, CEO of CoinShares, will join FlowBank’s board of directors.
“We are delighted that CoinShares continues to recognize and support FlowBank’s great potential and accomplishments and has decided to increase its stake in our bank. Today, FlowBank’s clients can invest in CoinShares’ crypto on CFDs and gain exposure to digital currencies in this way. This is only the beginning. We look forward to collaborating further with CoinShares in the coming months and taking our product offering to the next level, together,” comments Charles Henri Sabet, CEO and founder of FlowBank.
“After remarkable financial results in 2021, we continue to build an ambitious plan to make CoinShares an essential and leading player in the digital asset space. We are very excited to increase our participation in FlowBank, a key innovative player in Switzerland powered by a unique technology, and allow them to leverage our technology and digital asset expertise. This is aligned with our strategic plan to make CoinShares an integrated digital asset fintech company,” says Jean-Marie Mognetti.
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