CoinShares Announces Strategic Investment In Swiss-Based Online Bank, FlowBank
SAINT HELIER, Jersey, Oct. 7, 2021 /PRNewswire/ -- CoinShares International Limited, (Nasdaq First North Growth Market: CS) ("CoinShares" or the "Group" or the "Company") is pleased to announce a strategic investment of USD 11,845,790 in FlowBank, an online bank headquartered in Geneva, Switzerland.
Following the investment, CoinShares holds 110,000 shares in FlowBank, representing 9.02% of its enlarged share capital.
Today more than 50,000 financial products including stocks, bonds, commodities, ETFs, Forex, CFDs, and more are available to FlowBank's clients, allowing both private and institutional clients to invest in a wide range of asset classes on its FlowBank and FlowBank Pro platforms. Additionally, with FlowBank's planned launch of MetaTrader 4 ("MT4"), customers will be able to further enhance their Forex trading experience.
While FlowBank's customers can already invest in a variety of products, including CoinShares' crypto ETPs, it is hoped that its offering can be enhanced with the assistance of CoinShares' technology stack. From the beginning of next year, it is planned that customers will be able to directly buy, HODL, and sell cryptocurrencies, as well as other tokenized assets, directly from their FlowBank account.
Charles-Henri Sabet, FlowBank's founder and CEO, commented:
Additionally, this comes at an exciting point in FlowBank's journey as we are inaugurating a new office in Zurich. The expansion into the country's main financial hub 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 outreach and better connect with our growing user base across all Swiss Cantons".
Jean-Marie Mognetti, CoinShares Co-Founder and CEO, added:
CoinShares is Europe's largest and longest standing digital asset investment firm, managing billions of dollars of assets on behalf of its client base. The Group is focused on expanding investor access to the digital asset ecosystem by pioneering new financial products and services that seek to provide trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under ticker CS.
For more information on CoinShares, please visit: https://coinshares.com
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This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 7:00am BST on October 7, 2021.
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Company Codes: Stockholm:CS
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