Frick Bank announces launch of crypto trading division

Posted 22 February, 2019

Liechtenstein’s Frick bank intends to launch an independent regulated platform that will enable institutional investors to trade and manage cryptocurrencies.

Frick's new division called DLT Markets is reportedly designed to secure all the necessary infrastructure for crypto trading. The platform will be 100% regulated service and will also be powered by a custodial solution. As a result, customers will be able to use the platform as a secure place for keeping their digital assets.

"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,” the bank's official press release reads.

The division was established just this week but has already started cooperating with the parent company in terms of the launch of trading services. Roger Wurzel, that used to work in Business Development at Bank Frick has been appointed as CEO at DLT Markets taking into his deep experience in crypto trading, For reference, Wurzel had been engaged in international equities and derivatives trading at Deutsche Bank AG for more 20 years.

Notably, Frick has recently created another division called Distributed Ventures AG. Its major goal is to promote and fund blockchain-based startups. DLT Markets will allegedly complement the division.

The Frick board believes that DLT Markets AG will only strengthen the bank’s ground in the segment for regulated blockchain-based 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 the traditional securities business," Frick CEO Edi Wögerer explains. 

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22 February, 2019 14:23

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