Digital Asset Manager CoinShares Increases Its Stake in FlowBank to 20.28%by Fintechnews Switzerland March 14, 2022
London-based digital asset manager CoinShares announced that it will be increasing its stake in Swiss online bank FlowBank to 20.28%.
The move was to facilitate increased digital asset exposure through FlowBank’s proprietary technology platform.
In the fall of 2021, FlowBank announced that its new shareholder, CoinShares had acquired a stake of 9.02% in FlowB Holding which owns FlowBank.
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,”
said 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,”
said Jean-Marie Mognetti, Co-founder and CEO of CoinShares.