Update on FlowBank SA
13th June 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares'' or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, announces that it has today received information stating that the Swiss Financial Market Supervisory Authority (FINMA) has opened bankruptcy proceedings against FlowBank SA with effect from 13 June 2024 at 8:00am. As a consequence, FINMA has withdrawn the licence of FlowBank SA as a bank and securities dealer.
FlowBank SA is a subsidiary of FlowBank Holdings SA, which forms part of the Group’s principal investment portfolio. A further update will be made in due course regarding the impact of these proceedings, inclusive of any impact on the carrying value of the Group’s investment in FlowBank Holdings SA.
The Group’s exposure to FlowBank SA as a customer is immaterial, with deposits totalling approximately £100,000.
There is no impact on any of the Group’s products or clients as a result of these proceedings.
ABOUT COINSHARES
CoinShares is the leading European investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.
For more information on CoinShares, please visit: https://coinshares.com
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This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014.
PRESS CONTACT
CoinShares
Benoît Pellevoizin
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M Group Strategic Communications
Peter Padovano
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