European investment firm specializing in digital assets CoinShares International Limited announces that it has today received information that the Swiss Financial Market Supervisory Authority (FINMA) has initiated bankruptcy proceedings against FlowBank SA with effect from 13 June 2024 at 8:00 a.m. .m.
Consequently, FINMA has revoked the license of FlowBank S.A. as a bank and securities dealer.
CoinShares’ exposure to FlowBank SA as a customer is considered insignificant, with deposits totaling approximately £100,000.
There is no impact on any of the Group’s products or customers as a result of these proceedings, CoinShares said.