Europe’s leading digital asset investment firm, CoinShares today announced that the company has increased its stake in Switzerland-based FlowBank. The additional stake of 20.8% was acquired for CHF 24,740,000.
The recent announcement from CoinShares came nearly 5 months after the company acquired an almost 9% stake in FlowBank. Through the latest investment, CoinShares’ overall holding jumped to 29.3%, with voting rights equal to 32.06%
Founded by Charles Henri Sabet, FlowBank is licensed by FINMA, the Swiss government body responsible for financial regulation in the region. The platform offers trading services in a broad range of financial products, including stocks, ETFs, bonds, CFDs, and FX.
“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 unique technology, and allow them to leverage our technology and digital asset expertise. This is aligned with our strategic plan to make CoinShares an integrated digital asset fintech company.” Jean-Marie Mognetti, CEO of CoinShares, commented.
To expand its presence in new consumer market segments, CoinShares announced the acquisition of Napoleon, a French financial technology firm, and its subsidiaries in 2021.
Europe’s Crypto Market
Digital assets gained significant traction in Europe during the past 24 months. Digital asset management firms reported record growth in crypto AUM. According to CoinShares, the strategic investment in FlowBank will transform the industry and will ultimately provide benefits to investors in Switzerland and other countries across Europe.
“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,” Charles Henri Sabet, CEO of FlowBank, said.
Europe’s leading digital asset investment firm, CoinShares today announced that the company has increased its stake in Switzerland-based FlowBank. The additional stake of 20.8% was acquired for CHF 24,740,000.
The recent announcement from CoinShares came nearly 5 months after the company acquired an almost 9% stake in FlowBank. Through the latest investment, CoinShares’ overall holding jumped to 29.3%, with voting rights equal to 32.06%
Founded by Charles Henri Sabet, FlowBank is licensed by FINMA, the Swiss government body responsible for financial regulation in the region. The platform offers trading services in a broad range of financial products, including stocks, ETFs, bonds, CFDs, and FX.
“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 unique technology, and allow them to leverage our technology and digital asset expertise. This is aligned with our strategic plan to make CoinShares an integrated digital asset fintech company.” Jean-Marie Mognetti, CEO of CoinShares, commented.
To expand its presence in new consumer market segments, CoinShares announced the acquisition of Napoleon, a French financial technology firm, and its subsidiaries in 2021.
Europe’s Crypto Market
Digital assets gained significant traction in Europe during the past 24 months. Digital asset management firms reported record growth in crypto AUM. According to CoinShares, the strategic investment in FlowBank will transform the industry and will ultimately provide benefits to investors in Switzerland and other countries across Europe.
“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,” Charles Henri Sabet, CEO of FlowBank, said.
Source: https://www.financemagnates.com/cryptocurrency/news/coinshares-boosts-strategic-investment-in-flowbank/