20. Feb. 2019 - Press release
Bank Frick is establishing The DLT Markets AG to provide institutional investors with professional access to digital assets
Bank Frick is continuing to build on its pioneering role in the area of blockchain banking by establishing The DLT Markets AG (DLT Markets). The subsidiary will provide institutional investors with professional access to the multi-exchange trading of digital tokens. To do so, DLT Markets is developing a unique, globally positioned platform, which combines the regulatory security of the traditional securities business with the advantages offered by the new digital token asset class.
Roger Wurzel, CEO of The DLT Markets AG
Balzers (LI) – Bank Frick establishes DLT Markets. The subsidiary will provide institutional investors with an independent trading platform with fully regulated and secure multi-exchange access to the digital token asset class. This will allow investors to trade and manage digital tokens 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.
By administering order data and performing the risk and position management processes, DLT Markets ensures that assets and payment flows are securely booked. This is all based on innovative software and a globally positioned platform structure that minimises risk. This is how DLT Markets combines the advantages of the new digital token asset class with the regulatory quality of the traditional securities business.
The CEO of DLT Markets is Roger Wurzel, who previously worked in Business Development at Bank Frick and has a wealth of proven experience in trading cryptocurrencies. Before joining Bank Frick, he 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. With our fully regulated platform, we are driving professionalism with regard to the trading of digital tokens and cryptocurrencies.”
The Business Development area of DLT Markets is headed by Markus Besler, most recently a blockchain project developer at Bank Frick and previously a co-founder of Styxchange – a cooperative which provides a cloud-based interface for accounting solutions for blockchain transactions.
Future-oriented financial ecosystem
Bank Frick only recently established Distributed Ventures AG, a subsidiary tasked with promoting and financing fintech and blockchain start-ups.
As such, the establishment of DLT Markets represents a further step for Bank Frick in developing a future-oriented financial ecosystem and combines regulatory security with the benefits of blockchain banking. “In establishing The DLT Markets AG, we are significantly building on our leading position in the area of regulated blockchain 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 traditional securities business,” explains Edi Wögerer, CEO of Bank Frick.
About Bank Frick
Bank Frick is a family-run Liechtenstein bank with headquarters in Balzers. It was founded in 1998 by Kuno Frick Sr (1938–2017), with the majority now controlled by the Kuno Frick Family Foundation. Minority shareholder Net 1 UEPS Technologies, Inc. (Net1), holds 35 per cent of Bank Frick’s share capital. Net1 is a financial technology company listed on the Nasdaq stock exchange in New York.
Bank Frick focuses on providing products and services for financial intermediaries such as fiduciaries, asset managers, payment service providers and fintechs.
One of Bank Frick’s unique selling points is its high level of expertise in the regulated blockchain banking sector. The Bank supports Initial Coin Offerings (ICOs), provides custody of crypto assets and dealing services in leading cryptocurrencies for Bank Frick clients, and makes crypto assets bankable.
Bank Frick develops tailor-made funds for intermediaries and acts as a custodian bank.
It is the only bank in Liechtenstein with acquiring licences from Visa and MasterCard.
Bank Frick established subsidiaries in 2019 to operate independently on the market with new services: Distributed Ventures AG, an incubator and accelerator to promote and finance fintech and blockchain start-ups, as well as The DLT Markets AG, which provides institutional investors with professional access to digital assets.
Bank Frick employs more than 120 members of staff and operates a branch in London, UK.
About DLT Markets
DLT Markets offers institutional investors a software-based platform with professional structures that provides secure access to digital assets. By involving Bank Frick, which is also responsible for the central safekeeping of tokens, investors can trade cryptocurrencies on various international exchanges and thus rely on the regulatory environment of a universal bank, as is the case with the traditional securities business. Common banking standards, such as KYC and AML processes, are also applied to cryptocurrency trading, which makes the offering from DLT Markets unique. This makes DLT Markets a global pioneer when it comes to the professionalisation of digital token and cryptocurrency trading. For Bank Frick, DLT Markets represents a further step towards developing a future-oriented financial ecosystem. More information can be found at dlt-markets.com.
Bank Frick & Co. AG
Sigvard Wohlwend, Head of Corporate and Market Communications
T +423 388 21 46
The DLT Markets AG
Dr Sönke Knop, Axel Mühlhaus
T +49 69 90550 551