Bank Frick’s New Crypto Subsidiary Targets Institutional Cryptocurrency Investors

Announcements, News | February 21, 2019 By:

Bank Frick, a Liechtenstein-based family bank, has established a new subsidiary to provide institutional investors with professional access to the multi-exchange trading of cryptocurrencies.

Founded in 1998, Bank Frick offers private banking services, such as advisory services in the areas of investment, estate planning, third party analysis, taxation, charity and pensions, among others. It also provides financial services for families, back office services, traditional and alternative investment products. In 2018, the bank became the first financial institution in Liechtenstein to offer direct investment and cold storage of major cryptocurrencies.

The new subsidiary, called DLT Markets, will develop a platform that will allow investors to trade and manage cryptocurrencies in a regulated environment, as they are used to from the traditional securities business.

“DLT Markets provides institutional clients with automated multi-exchange access, without having to forsake any of the conveniences offered by a bank regulated by the EU as the central custodian – Bank Frick is involved here as one of the European leaders in blockchain banking.”

DLT Markets will be headed by Roger Wurzel, who previously worked in Business Development at Bank Frick and has a wealth of proven experience in trading cryptocurrencies. Wurzel previously worked internationally for over 20 years at Deutsche Bank AG in equities and derivatives trading.

“We are creating a unique market offering for institutional investors in the area of the new digital token asset class,” said Wurzel. “With our fully regulated platform, we are driving professionalism with regard to the trading of digital tokens and cryptocurrencies.”

Bank Frick, which recently established a subsidiary tasked with promoting and financing FinTech and blockchain startups, said that the establishment of DLT Markets represents a further step for the bank in developing a future-oriented financial ecosystem and combines regulatory security with the benefits of blockchain banking.

“In establishing The DLT Markets, we are significantly building on our leading position in the area of regulated blockchain banking,” said Edi Wögerer, CEO of Bank Frick. “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.”