Bank Frick starts online cryptocurrency trading
Bank Frick is the first bank in Liechtenstein to enable online trade with cryptocurrencies – with immediate effect. With this offer, the bank is directly addressing financial intermediaries and institutional clients.
Bank Frick is the first financial institute from Liechtenstein to now be offering cryptocurrency trading via online banking. According to a press release, trade can take place in nine leading cryptocurrencies within the fully regulated framework of the bank, which specializes in banking for intermediaries.
Trading of cryptocurrencies using the institute’s online banking above all offers financial intermediaries such as trusts, asset managers, and institutional clients the option of enabling their end customers to access the new asset class of cryptocurrencies “in a simple and convenient way, thereby setting themselves apart from their competitors.” Stefan Rauti, Head Private Clients and EAM of Bank Frick explains that this “enables intermediaries to diversify their client portfolios quickly and easily,” adding that “classic and blockchain banking will thus continue to grow together.”
Using Bank Frick’s online banking, asset managers can now release payment orders particularly efficiently using the mass subscription function, which is a one-off subscription across all customer bases. When doing so, online banking allows all subscription rights, from individual to collective subscriptions, to be viewed.
Rauti states that Bank Frick has already proven to be very popular, adding: “Following our first crypto-certificate and the first crypto-based AIF in the CHF area, Bank Frick is thus also living up to its pioneering role in online banking.”