CoinShares Increases FlowBank Ownership by 29%

CoinShares – a digital asset management firm – has increased its stake in the Swiss online banking platform ‘FlowBank’ following approval from the Swiss Financial Market Supervisory Authority.

According to a press release from CoinShares earlier today, the increased investment will facilitate “increased digital asset exposure” for FlowBank’s clients using the CoinShares platform.

CoinShares’ previous stake in FlowBank was established in October of 2021 at 9.02%. This investment increased the share by 20.8% and brought it to 29.3%. It also gives voting rights equal to 32.06% at FlowBank.

“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,” said Jean-Marie Mognetti, CEO of CoinShares.

She stated that the increased stake is part of the company’s plan to turn CoinShares into an “integrated digital asset fintech company.”

Meanwhile, FlowBank CEO Charles Henri Sabet confirmed that the bank’s clients may gain exposure to crypto using contracts for difference – a derivative that acts as a contract between traders and brokerages.

We look forward to collaborating further with CoinShares in the coming months and taking our product offering to the next level, together,” he added.

The Chief Strategy Officer at CoinShares is big on Bitcoin’s future. While dismissing meme coins like Dogecoin as a “mania” and a “bubble” in April, she believes Bitcoin is “here to stay” and that it could be transforming into a risk-off asset amid the Russian-Ukrainian conflict.

 

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