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CoinShares makes strategic investment in FlowBank to enhance its integrated strategy

By Joy Dumasia

March 17, 2022

  • Asset Management
  • CeFi
  • CHF
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CoinShares, Europe’s digital asset investment firm, announced that following approval from the Swiss Financial Market Supervisory Authority, it has acquired an additional 20.8% stake in Swiss-based FlowBank. This acquisition was priced at CHF 24,740,000. Following the Company’s October 2021 strategic investment of a 9.02% stake in FlowBank, the disclosure brings CoinShares’ overall holding to 29.3%, with voting rights equal to 32.06%.

CoinShares’ mission is to enable access to digital assets through unparalleled financial service technology. The Company is at the forefront of a generational shift catalysed by the recent emergence of decentralised finance (DeFi), web3, and the further integration of blockchain technology into the traditional financial ecosystem. Since its inception, CoinShares has been a pioneer in digital assets by offering a suite of financial products and crypto ETPs, enabling digital asset exposure for investors on traditional exchanges such as Euronext, Börse Xetra, Six Swiss Exchange. CoinShares continues to advance this ambitious consumer-focused strategy by collaborating with and investing in FlowBank to reach a broader investor market seeking a more advanced digital asset exposure.

To support its product innovation, CoinShares built Galata, a proprietary technology platform that acts as a gateway to the digital asset ecosystem, connecting CeFi platforms to digital asset protocols and markets. By leveraging Galata, FlowBank will be able to take advantage of more advanced features and offer exposure to various digital assets to its clients. Following the investment, Jean-Marie Mognetti, CoinShares’ CEO, will join FlowBank’s board of directors to advise on FlowBank’s digital asset strategy and international development.

Jean-Marie Mognetti, CEO of CoinShares, said: “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.” 

“We are delighted that CoinShares continues to recognise 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,” Charles Henri Sabet.

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