According to the bank’s announcement, DLT Markets will supply institutional traders “with fully regulated and secure multi-exchange access to the digital token asset class.”
Edi Wögerer, CEO of Bank Frick, declared:
“With our spin-off, we’re providing institutional purchasers a singular aggregate of a fintech corporate and a financial institution regulated by means of the EU[.]”
Roger Wurzel, who up to now labored in trade building at Bank Frick, has been appointed because the CEO of the brand new subsidiary, the click unencumber experiences. The financial institution’s former blockchain venture developer and co-founder of cloud-based accounting corporate Styxchange will probably be liable for trade building at DLT Markets.
Bank Frick, headquartered in Balzers, used to be based in 1998 and is majority owned by means of the Kuno Frick Family Foundation, the click unencumber additionally notes. According to every other press release from April 2018, the financial institution reported a internet benefit of 6.Three million Swiss francs (about $6.Three million) in 2017 — just about double income of three.2 million francs (about $3.2 million) registered within the earlier 12 months.
According to the similar record, the financial institution controlled 3.81 billion francs (about $3.eight billion) in shopper price range on the time of e-newsletter.
DLT Markets isn’t the financial institution’s first project into the crypto sphere. As Cointelegraph reported in March final 12 months, Bank Frick additionally gives “direct investment” in and chilly garage of 5 primary cryptocurrencies.
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