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%. The investment announced today increased that share by 20.8% to 29.3%, with 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.