On Wednesday, February 20, Liechtenstein-based Bank Frick announced that it has created a new crypto-trading platform for institutional investors. The latest announcement comes as an attempt to provide professional access to digital assets.
To offer these services, Bank Frick has created a new subsidiary called DLT Markets AG which will offer all the necessary infrastructure to buy and sell digital assets from several different exchanges. The official announcement reads that it would “allow investors to trade and manage digital tokens in a regulated environment, as they are used to, from the traditional securities business”.
Professional Access to Digital Tokens
DLT Markets AG will completely administer the order data along with processing risk and position management processes. Besides crypto trading facilities, Bank Frick will also provide custodial services to institutional players. The institutional players will have to fully comply with anti-money laundering and KYC requirements to minimize risks. DLT Markets Chief Executive Officer - Roger Wurzel said:
“We are creating a unique market offering for institutional investors in the area of the new digital token asset class. With our fully regulated platform, we are driving professionalism with regard to the trading of digital tokens and cryptocurrencies”.
Since long, Liechtenstein has maintained its pro-crypto stand and has been backing projects related to it. Earlier this week, Cryptoscanner reported that the government post office of Liechtenstein will now be selling Bitcoin tokens in partnership with Zug-based Värdex Suisse AG. Besides Bitcoin, the Liechtenstein post-office will also be selling other digital tokens to customers. Furthermore, the Liechtenstein central bank has also announced plans to issue security tokens.
Bank Frick’s FinTech Ambitions
Much recently, Bank Frick also established Digital Ventures AG as an attempt to promote and financing blockchain and FinTech startups. Now the launch of DLT Markets will help traditional institutions like Bank Frick to develop “future-oriented financial ecosystem” while following the regulatory security and unleashing the benefits of blockchain technology.
Edi Wögerer, CEO of Bank Frick, said: “In establishing The DLT Markets AG, we are significantly building on our leading position in the area of regulated blockchain banking. With our spin-off, we are offering institutional clients a unique combination of a fintech company and a bank regulated by the EU. The trading and safekeeping of digital assets thus go hand in hand – just like they do in traditional securities business”.