A private bank, Bank Frick based in the village of Balzers, Liechtenstein has set up a cryptocurrency trading platform for institutional investors. However, it will offer the service through its new auxiliary DLT Markets AG.
As the bank indicated in an announcement on Feb. 20, DLT Markets will give its clients the infrastructural access to purchase assets. Also, move digital assets from a few trades. Cryptocurrency Trading Platform Set Up For Institutional Investors. Also, the company stated that this “allows investors to trade and manage digital tokens in a regulated environment, as they are used to form the traditional securities business.”
The unit will oversee order data, position management processes and perform risk assessments as a component of efforts to register assets and installments safely. However, Bank Frick will give custodial administrations to institutional financial investors exchanging cryptocurrency. The criteria are for these organizations to be completely compliant with and follow full know-your-client and anti-money laundering requirements.
Roger Wurzel, CEO of DLT Markets, who has experience exchanging equities and derivatives at Deutsche Bank, said:
“We are creating a unique market offering for institutional investors in the area of the new digital token asset class. Along with our fully regulated platform, we are driving professionalism with regard to the trading of digital tokens and cryptocurrencies.”
Cryptocurrency Trading Platform Set Up For Institutional Investors. Recently, Bank Frick settled Distributed Ventures AG, an auxiliary entrusted with advancing and financing fintech and blockchain startup companies. Similarly, the launch of DLT Markets is seen as representing “a further step for Bank Frick in developing a future-oriented financial ecosystem. Thus combining regulatory security with the benefits of blockchain banking,” according to CEO Edi Wögerer.
“However, with our spin-off, we are offering institutional clients a unique combination of a fintech company and a bank. Also, the trading and safekeeping of digital assets thus go hand in hand. Just like they do in the traditional securities business.”