CoinShares Invests $11.8 Million into Geneva-Based FlowBank

Fazzaco learned that CoinShares, one of the world’s largest digital asset management firms, has invested $11,845,790 into FlowBank, a Geneva-based online bank. CoinShares owns 110,000 shares in FlowBank, representing 9.02% of its enlarged share capital.

Built in 2020 by Charles-Henri Sabet, FlowBank is licensed by the Swiss Financial Market Supervisory Authority (FINMA). FlowBank can provide over 50,000 financial products including stocks, bonds, commodities, ETFs, Forex and CFDs. FlowBank’s clients can already invest in a variety of products, including CoinShares’ crypto ETPs.

The Swiss crypto ecosystem has grown significantly in the last 12 months. And at the end of September 2021, FINMA approved the country’s first cryptocurrency fund. CoinShares announced the growing popularity of different financial products in Switzerland.

“CoinShares’ technology stack has been the backbone of our success since 2015. To date, this infrastructure layer has powered our internal commercial developments. Offering FlowBank our expertise and the capacity to start building on our technology stack is a testimony to our state-of-the-art infrastructure. FlowBank’s and our vision for the banking and investing industries are aligned and will serve as fertile soil for a fruitful partnership.” Jean-Marie Mognetti, CoinShares Co-Founder and CEO, said.