Coinshares International is boosting its stake in Flowbank, the Geneva-based online bank, and will get a directors seat.
Flowbank, announced that UK-based digital asset specialist Coinshares International, had increased its stake to over 20 percent in the online bank, increasing the investment made last year by 9 percent. The transaction was approved by the Swiss Financial Market Supervisory Authority (FINMA), according to a statement.
«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,» says Flowbank founder and CEO Charles Henri Sabet.
New Board Member
Coinshares’ investment aligns with the company's strategic goal to make it an integrated digital asset fintech company, says CEO Jean-Marie Mognetti, who will join Flowbank’s board of directors.
«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,» Mognetti said.
Flowbank was founded in 2020 by Sabet and is licensed by FINMA.
