CoinShares makes further strategic investment in FlowBank to enhance its integrated strategy
SAINT HELIER, Jersey, March 14, 2022 /PRNewswire/ -- CoinShares ("the Company"), Europe's largest and longest standing digital asset investment firm, today announced that following approval from the Swiss Financial Market Supervisory Authority, has acquired an additional 20.8% stake in Swiss-based FlowBank. This acquisition was priced at CHF 24,740,000. Following the Company's October 2021 strategic investment of a 9.02% stake in FlowBank, today's disclosure brings CoinShares' overall holding to 29.3%, with voting rights equal to 32.06%.
- Following the Company's October 2021 strategic investment of a 9.02% stake in FlowBank, today's disclosure brings CoinShares' overall holding to 29.3%, with voting rights equal to 32.06%.
- CoinShares continues to advance this ambitious consumer focused strategy by collaborating with and investing in FlowBank to reach a broader investor market seeking a more advanced digital asset exposure.
- Following the investment, Jean-Marie Mognetti, CoinShares' CEO, will join FlowBank's board of directors to advise on FlowBank's digital asset strategy and international development.
- CoinShares strategic investment in FlowBank brings together two trusted players in their respective markets and is a sign of industry transformation, which will benefit investors in Switzerland and beyond.