CoinShares, one of the world\u2019s largest digital asset management firms, announced a strategic investment today of $11,845,790 in FlowBank, a Geneva-based online bank.<\/p>\n
According to an official announcement, CoinShares holds 110,000 shares in FlowBank, representing 9.02% of its enlarged share capital. Founded in 2020 by Charles-Henri Sabet, FlowBank is licensed by the Swiss Financial Market Supervisory Authority (FINMA).<\/p>\n
FlowBank offers a broad range of services. The clients of the company can access more than 50,000 financial products including stocks, bonds, commodities, ETFs, Forex and CFDs. FlowBank\u2019s customers can already invest in a variety of products, including CoinShares\u2019 crypto ETPs.<\/p>\n
The Swiss crypto ecosystem has grown significantly in the last 12 months. During the last week of September 2021, the Swiss Financial Market Supervisory Authority approved the country\u2019s first cryptocurrency fund. In the recent announcement, CoinShares highlighted the growing popularity of different financial products in Switzerland.<\/p>\n
Commenting on the latest strategic investment in FlowBank, Jean-Marie Mognetti, CoinShares Co-Founder and CEO, said: \u201cCoinShares\u2019 technology stack has been the backbone of our success since 2015. To date, this infrastructure layer has powered our internal commercial developments. Offering FlowBank our expertise and the capacity to start building on our technology stack is a testimony to our state-of-the-art infrastructure. FlowBank\u2019s and our vision for the banking and investing industries are aligned and will serve as fertile soil for a fruitful partnership.\u201d<\/p>\n
Since its launch, FlowBank has seen significant demand for different financial products. Private and institutional clients can invest in a wide range of assets through the platforms of FlowBank. The company is expanding its presence in Switzerland through a new office in Zurich.<\/p>\n
\u201cOne year after its successful launch and rapid growth, FlowBank is excited to announce that CoinShares, a pioneer in digital asset investing listed on the Nasdaq First North Growth Market, has become a new strategic investor. This further reinforces FlowBank\u2019s commitment to go beyond the frontiers of traditional investment by providing its customers easy-to-use and trusted gateways to traditional and decentralized finance,\u201d Charles-Henri Sabet, FlowBank\u2019s Founder and CEO, commented.<\/p>\n