CoinShares, a European digital asset investment firm, has, following approval from the Swiss Financial Market Supervisory Authority, acquired an additional 20.8 per cent stake in Swiss-based FlowBank.
This acquisition was priced at CHF24,740,000. Following the Company’s October 2021 strategic investment of a 9.02 per cent stake in FlowBank, the deal brings CoinShares’ overall holding to 29.3 per cent, with voting rights equal to 32.06 per cent.
To support its own product innovation CoinShares built Galata, a proprietary technology platform that acts as a gateway to the digital asset ecosystem, connecting CeFi platforms to digital asset protocols and markets. By leveraging Galata, FlowBank will be able to take advantage of more advanced features and will offer exposure to a variety of digital assets to its clients. Following the investment, Jean-Marie Mognetti, CoinShares’ CEO, will join FlowBank’s board of directors to advise on FlowBank’s digital asset strategy and international development.
