Digital asset firm CoinShares increases stake in Swiss online bank
London-based digital asset management company that provides financial products and services to professional investors, CoinShares acquired a 20.28% stake in the Swiss online bank FlowBank, bringing its stake to 29.3%. The acquisition, at a price of €24,157,914.81, follows the company’s strategic investment in October 2021 of a 9.02% stake in FlowBank.
CoinShares enables exposure to this new asset class for investors on traditional exchanges. The company’s strategic investment in the Swiss entity reflects the industry’s transformation from traditional banking to owning digital assets, which will benefit investors in Switzerland and beyond. Following this investment, CoinShares CEO Jean-Marie Mognetti will join FlowBank’s board of directors.
Charles-Henri Sabet, CEO and Founder of FlowBank, said, “Our clients can invest in CoinShares crypto on CFDs and gain exposure to digital currencies. This is only the beginning. We look forward to collaborating more with CoinShares in the coming months and taking our product offering to the next level. »
CoinShares has seen a wave of expansion through acquisitions. Last year, it bought the index exchange-traded fund (ETF) business of Elwood Technologies in July and French crypto investment products provider Napoleon Crypto in December.