Cryptocurrencies
Crypto Firm Raises Stake in Swiss Bank in $26.5 Million Tie-Up
- CoinShares increases stake to 29.3% in Switzerland’s FlowBank
- Firm is now joint controlling shareholder with bank’s CEO
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CoinShares International Ltd. has increased its stake in Swiss-based online bank FlowBank SA, to 29.3% of the business in a 24.7 million franc ($26.5 million) transaction.
The tie-up makes the digital asset investment firm a joint controlling shareholder alongside FlowBank Chief Executive Officer Charles Henri Sabet, a spokesperson said, with voting rights equal to 32.06%. Its previous stake was equal to 9.02%, acquired for $11.9 million in October.