CoinShares Announces Strategic Investment in Switzerland-Based Online Banking FlowBank
SAINT HELIER, Jersey, October 7, 2021 / PRNewswire / – CoinShares International Limited, (Nasdaq First North Growth Market: CS) (“CoinShares“or the”Group“or the”Society“) is pleased to announce a strategic investment of USD 11,845,790 to FlowBank, an online bank based in Geneva, Switzerland.
As a result of the investment, CoinShares owns 110,000 shares of FlowBank, representing 9.02% of its enlarged share capital.
Founded by Charles-Henri Sabet in 2020, approved by the Federal Financial Market Supervisory Authority (“FINMA“) and a member of esisuisse, FlowBank aspires to make investing accessible to all. It does so through intuitively designed investment platforms, educational trading courses led by seasoned experts and offering very high prices. competitive.
Today, over 50,000 financial products including stocks, bonds, commodities, ETFs, Forex, CFDs, and more. are available to FlowBank clients, allowing private and institutional clients to invest in a wide range of asset classes on its FlowBank and FlowBank Pro platforms. Additionally, with FlowBank’s planned launch of MetaTrader 4 (“MT4“), clients will be able to further enhance their Forex trading experience.
FlowBank’s mission begins in from Switzerland borders, but the company has international ambitions. the association of FlowBank with CoinShares, Europe the largest and oldest digital assets company, further strengthens FlowBank’s mission to create a transparent and innovative banking and investment journey for its clients, while retaining the best of Swiss banking heritage.
While FlowBank customers can already invest in a variety of products, including CoinShares crypto ETPs, it is hoped that its offering can be improved with the help of CoinShares’ technology stack. From the start of next year, it is expected that customers will be able to buy, HODL and sell cryptocurrencies, as well as other tokenized assets, directly from their FlowBank account.
Charles-Henri Sabet, Founder and CEO of FlowBank, commented:
“One year after its successful launch and rapid growth, FlowBank is delighted to announce that CoinShares, a pioneer in investing in digital assets listed on the Nasdaq First North Growth Market, has become a new strategic investor. This further reinforces FlowBank’s commitment to go beyond the boundaries of traditional investing by providing its clients with easy-to-use and reliable gateways to traditional and decentralized finance.
Additionally, this comes at an exciting time in FlowBank’s journey as we inaugurate a new office in Zurich. The expansion into the country’s main financial hub underscores FlowBank’s deeply rooted commitment to Switzerland, opening an office in the heart of that of Zurich financial district. With our new location at Löwenplatz, we will now be able to extend our reach and better connect with our growing user base in all Swiss cantons. “
Jean-Marie Mognetti, co-founder and CEO of CoinShares, added:
“The CoinShares technology stack has been the backbone of our success since 2015. To date, this infrastructure layer has fueled our internal business developments. Providing FlowBank with our expertise and the ability to start building on our technology stack is a testament to our state of the art infrastructure. FlowBank and our vision for the banking and investing sectors are aligned and will serve as fertile ground for a successful partnership. It is with pleasure that we become a strategic shareholder alongside Charles-Henri Sabet and his team to help them achieve their growth ambitions. “
CoinShares is Europe the largest and oldest digital asset investment firm, managing billions of dollars in assets on behalf of its clients. The Group is focused on expanding investor access to the digital asset ecosystem by creating new financial products and services that seek to provide confidence and transparency when accessing this new asset class. CoinShares is listed on the Nasdaq First North Growth Market under the ticker CS.
For more information on CoinShares, please visit: https://coinshares.com
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This information is information that CoinShares International Limited is obliged to make public in accordance with EU Market Abuse Regulation 596/2014). The information in this press release was published through the contact persons indicated above, at 7:00 a.m. BST on October 7, 2021.
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