The digital asset investment firm has decided to increase its stake in the online banking platform based in Switzerland.
Based on the official report, CoinShares will continue to support FlowBank by purchasing a 20.8% stake in the company, worth over CHF 24,7M (approximately $26.5 million). Back in October 2021, CoinShares made the initial investment of almost $12 million into FlowBank, amounting to 9.02% of its share capital. The digital asset investment firm now holds a third of FlowBank’s shares.
With the continued strategic investment, CoinShares will give FlowBank access to its trademark Galata technology which creates a gateway between centralized finance platforms, blockchain protocols, and digital asset markets.
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CEO of CoinShares Jean-Marie Mognetti spoke on the continued strategic investment into FlowBank, stating:
"We are very excited to increase our participation in FlowBank, a key innovative player in Switzerland powered by a 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."
CoinShares has been regarded as one of the largest cryptocurrency investment companies in Europe, with a focus on helping institutions build a digital asset infrastructure.
FlowBank acts as a mobile banking platform, which is fully registered with the Swiss Financial Market Supervisory Authority (FINMA) and operates as a licensed bank.
CoinShares is also involved in crypto asset management, and, back in February, published an analysis paper discussing how the crypto market has been affected by the conflict between Russia and Ukraine.
