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flovtec appoints Dr. Daniel Diemers to the Board of Directors, successfully closes Seed financing round

Thursday, November 19, 2020
Opalesque Industry Update - flov technologies AG (flovtec), a Switzerland based technology company that provides liquidity solutions to digital assets exchanges and token issuers, has announced that in June 2020 the shareholders have elected Dr. Daniel Diemers to the Board of Directors.

The former Managing Director of Strategy& Switzerland and Head of Blockchain for PwC EMEA has made a career of bringing together the innovative world of blockchain technology and the more traditional business landscape. His appointment complements the Board's strong industry experience and supports flovtec's strategy for growth and sustainable value creation.

Manuel Krieger, flovtec's Chairman of the Board of Directors: "We are thrilled that Dr. Daniel Diemers has joined flovtec. His experience and knowledge will play an important role in successfully driving the next phase of flovtec's development and will be key for our drive to contribute to the growth of the digital assets ecosystem.". "I strongly believe in the importance of liquidity for the digital asset ecosystem and continue to be impressed with flovtec's achievements and the quality of the team. I very much look forward to contributing to flovtec's success and appreciate the confidence put in me by the Shareholders and the Board", adds Dr. Daniel Diemers.

Liquidity is the ability to easily sell or buy an asset at any given time without causing a drastic change in price. flovtec has built a technological infrastructure and fully automated market making algorithms that allow it to enable liquidity across dozens of digital asset exchanges and for any token. The clients, exchanges and token issuers, provide the capital and flovtec then leverages its technology to ensure a liquid market for the tokens.

"Liquidity is the missing piece in the digital asset ecosystem, and as the ecosystem continues to grow, liquidity is a key challenge that exchanges and token issuers have to overcome", said Anton Golub, flovtec's CEO & Co-Founder.

The election of Dr. Daniel Diemers to the Board of Directors, coincides with a series of exciting news around flovtec. Earlier this year, flovtec has successfully closed a Seed financing round - in total the company has now raised CHF 4,5mil. The funds raised will help flovtec reach the technological scalability necessary to onboard clients, exchanges and token issuers at a higher pace. In the fast-moving world of digital assets, the ability to do so is a focal point of success. flovtec has also partnered up with Archax - the first FCA-regulated digital asset exchange for digital securites - as a technology partner to offer liquidity solutions to issuers of security tokens. Additionally, flovtec announced the launch of its first investment product "met@one nematic", an Actively Managed Certificate that provides professional & institutional investors exposure to digital assets through flovtec's trading strategies.

Expanding the business from providing liquidity services to exchanges and token issuers, to using the trading algorithms and infrastructure to open up these opportunities to external investors, is a logical next step for the company.

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