London-based digital asset management firm that provides financial products and services for professional investors, CoinShares has acquired a 20.28% stake in Swiss online bank FlowBank, increasing its holding to 29.3%. The acquisition priced at €24157914.81, follows the company's October 2021 strategic investment of a 9.02% stake in FlowBank.
CoinShares is enabling exposure to this new asset class for investors on traditional exchanges. The firm’s strategic investment in the Swiss entity reflects industry transformation from traditional banking to owning digital assets, which will benefit investors in Switzerland and beyond. Following the investment, CoinShares CEO Jean-Marie Mognetti will join FlowBank's board of directors.
Charles Henri Sabet, CEO and founder, FlowBank said: “Our 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.”
CoinShares has been on an expansion spree through acquisitions. Last year, it bought Elwood Technologies’ exchange-traded fund (ETF) index business in July and French crypto investment product provider Napoleon Crypto in December.
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