London-based digital asset manager CoinShares has acquired a 9.02% stake in Swiss online bank FlowBank for US$11.85 million.
With this move, FlowBank’s clients can invest in CoinShares’ crypto ETPs. From next year onwards, customers will be able to directly buy, HODL, sell, share cryptocurrencies as well as other tokenised assets directly from their FlowBank account.
This further expands the wide financial product suite currently available through FlowBank.
Additionally, FlowBank has also opened an office in the heart of Zurich’s financial district a year after its successful launch and rapid growth.
FlowBank’s new office will accommodate both the business development team as well as key functions of the customer support team.
Charles Henri Sabet, Founder and CEO of FlowBank said,
“Zurich’s well-known Paradeplatz is getting competition.
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, Co-Founder and CEO of CoinShares said,
“ FlowBank’s and our vision for the banking and investing industries align perfectly and therefore serve as fertile soil for a trusting, enduring partnership.
It is our pleasure to become a close partner to Charles Henri Sabet and his team and help them achieve their growth ambitions.”