CoinShares pays $25M to increase stake in Charles-Henri Sabet’s FlowBank

abdelaziz Fathi

Europe’s largest digital asset investment firm, CoinShares has bought additional 20% stake in digital bank FlowBank, which is licensed by the Swiss Financial Market Supervisory Authority.

The Jersey, Channel Islands-based firm had initially made an $11.8 million strategic investment in FlowBank back in October 2021. As per the recent shareholding pattern, CoinShares has paid $25 million to up its overall stake to 29.3%. As part of this transaction, the company was also granted voting rights equal to 32.06%.

Founded by former LCG CEO, Charles-Henri Sabet, FlowBank promises to smooth the online trading and banking experience with a software platform that allows clients to invest in different asset classes, including cryptocurrencies, from a single account.

The startup sought by the online-trading veteran and Swiss banker offers access to 50+ financial global markets as well as basic banking services. This includes a payment card that allows holders to shop and pay in CHF, EUR and USD. The brand is located in Geneva and holds a banking license from the Swiss Financial Market Supervisory Authority (FINMA).

Flowbank clients can invest in CoinShares’ crypto ETPs

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

“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. This is only the beginning. We look forward to collaborating further with CoinShares in the coming months and taking our product offering to the next level, together,” added Charles Henri Sabet.

FlowBank also positions itself as a one-stop multi-asset experience for trading and banking. It currently employs more than 50 specialists, who have been there since the start of the project. However, it plans to take on further staff and develop its technology through to the end of the year.

Through its strategic investment, CoinShares says it allows its clients to leverage the Swiss banking’s heritage. Flowbank clients also can now invest in CoinShares’ crypto ETPs and other tokenised assets directly from their Flowbank account.

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