CoinShares Announces Strategic Investment in Switzerland-Based Online Banking FlowBank
October 7, 2021 | SAINT HELIER, Jersey | CoinShares International Limited, (Nasdaq First North Growth Market: CS) (“CoinShares“or the”Group“or the”Society“) is pleased to announce a strategic investment of $ 11,845,790 in 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 Swiss Financial Market Supervisory Authority (“FINMA”) and member of esisuisse, FlowBank aspires to make investment accessible to everyone. It does this through intuitively designed investment platforms, educational trading courses led by seasoned experts, and very competitive prices.
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. In addition, with the planned launch of MetaTrader 4 (“MT4”) by FlowBank, clients will be able to further enhance their Forex trading experience.
FlowBank’s mission begins within the borders of Switzerland, but the company has international ambitions. FlowBank’s association with CoinShares, Europe’s largest and oldest digital asset company, further strengthens FlowBank’s mission to create a transparent and innovative banking and investment journey for its clients, while maintaining 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, said:
“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 transcend the boundaries of traditional investing by providing its clients with easy-to-use and reliable gateways to traditional and decentralized finance.
Additionally, it comes at an exciting time in FlowBank’s journey as we open a new office in Zurich. The expansion into the country’s main financial center underlines FlowBank’s deeply rooted commitment to Switzerland, opening an office in the heart of Zurich’s 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 leveraging 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 in order to help them achieve their growth ambitions.
CoinShares is Europe’s largest and oldest digital asset investment firm, managing billions of dollars in assets on behalf of its customers. 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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