Bank Frick launches certificate for cryptocurrencies
Bank Frick has become the first Liechtenstein bank to launch a certificate based on cryptocurrencies. This offers investors an easy way to add cryptocurrencies to their portfolios. To address the complexity inherent in cryptocurrencies, Bank Frick has had to put the relevant structures in place and build up a wealth of know-how in this field.
The Liechtenstein-based Bank Frick has made its Cryptocurrency Basket Tracker (CCT) available to qualified and institutional investors. The investment objective of the cryptocurrency certificate is to participate in the performance of the underlying assets across its five-year term. Bitcoin and Ether are the assets underlying the CCT. The certificate is currently being issued as part of a private placement.
Bank Frick’s CCT was issued on 1 July 2017. In an initial phase, the certificate was exclusively offered to qualified investors at the Bank. “We have used the ten weeks since then to examine our internal processes and to comprehensively test the interfaces with external service providers and other technical components,” explains Raphael Haldner, Head of Funds and Issues, and leading product developer for the certificate at Bank Frick.
“The technology has great potential”
Now Bank Frick is also giving external clients who fulfil the required criteria the opportunity to participate in the performance of cryptocurrencies. “With this product, we are offering institutional and qualified clients a very easy way to gain experience in these new, exciting financial instruments,” adds Bank Frick’s crypto-expert Mauro Casellini, Head of Business Clients and Payment Service Providers: “In recent months, the developments and insights in the area of cryptocurrencies and the underlying blockchain technology have shown the great potential of this innovative technology. However, it has to be noted that investments in cryptocurrencies are speculative and involve extremely high levels of volatility, where, in a worst-case scenario, a total loss is possible.”
If a person does not have an in-depth knowledge of the underlying technology, directly holding cryptocurrencies involves a high level of risk. “You have to view cryptocurrencies as a type of digital cash,” explains Casellini. “This ‘cash’ is held in a digital wallet in the form of complicated numerical codes, for example as a software wallet on a smartphone or a stand-alone hardware wallet. In the past, there have repeatedly been dramatic hacks, where large sums of crypto-money have been stolen. With our extremely defensive approach, our Bank is able to offer a very high level of security in this regard.”
High security standard
At Bank Frick, cryptocurrencies are held in what are known as “cold storage” wallets, i.e. wallets that are not connected to the Internet. In turn, backups are also made of these. The encrypted wallets and their backup copies are kept in safe deposit boxes at various locations (georedundancy). “The multi-signature solution we use also increases security,” explains Raphael Haldner: “Each transaction has to be signed off by more than one person before it can be executed.”
Bank Frick works together with Bitcoin Suisse Ltd, which acts as a broker and settles purchases via various exchanges around the world. Bitcoin Suisse Ltd brings together liquidity from the various trading venues in an order book, which ensures excellent execution.
White-label solutions
“The technical requirements for crypto-financial instruments are extremely high. However, thanks to our expertise, we are able to launch own products and white-label products extremely quickly,” says Haldner: “We are currently dealing with various requests from product and fund promoters.”
The CCT was developed under the aegis of Bank Frick’s future-oriented digital strategy, which actively addresses and helps shape the rapid changes in the financial sector. Many years ago, Bank Frick recognised that in future, new business fields and business models would be required in order to succeed in the changing market conditions going forward. Bank Frick’s semi-annual results (see www.bankfrick.li) shows that the new digital business models are gaining real ground.
Bank Frick’s crypto-expert Mauro Casellini: “In recent months, the developments and insights in the area of cryptocurrencies and the underlying blockchain technology have shown the great potential of this innovative technology.”
Raphael Haldner, Head Funds and Issues: “The technical requirements for crypto-financial instruments are extremely high. However, thanks to our expertise, we are able to launch own products and white-label products extremely quickly,”
About Bank Frick
Bank Frick is a family-run Liechtenstein bank with headquarters in Balzers. It was founded in 1998 by Kuno Frick Sr, with a 70 per cent majority held by the Liechtenstein-based Kuno Frick Family Foundation. Minority shareholder Net 1 UEPS Technologies, Inc. (Net1) holds 30 per cent of Bank Frick’s share capital. Net1 is listed on the Nasdaq stock exchange in New York.
Bank Frick focuses on private clients, business clients and fund clients, who are supported by specialised departments.
Bank Frick is the only bank in Liechtenstein with acquiring licences from Visa and MasterCard.
For qualified market players Bank Frick develops tailor-made funds and acts as a custodian bank.
In the first half of 2017, the Bank with its roughly 78 employees generated a profit of CHF 2.7 million and managed assets in the amount of CHF 2.9 billion. As at the end of June 2017, the balance sheet total was CHF 990 million. The capital base stood at CHF 85 million.
Bank Frick operates a branch in London.
Related Articles
Bank Frick reports net profit of 9.2 million francs
In a challenging market environment, Bank Frick generated a profit of 9.2 million francs in 2025 and slightly exceeded its budgeted targets. Through targeted investments in strategic projects, products, and personnel, the Bank continued to pursue its growth strategy.
Bank Frick expands its Board of Directors with Marzia Thüring-Menegon
At the proposal of the Chair of the Board of Directors, Dr Mario Frick, the Annual General Meeting of Bank Frick appointed an additional board member. With Marzia Thüring-Menegon, the Bank gains the Board of Directors’ preferred candidate, who will reinforce the strategic direction with her experience particularly in payment transactions, IT and transformation.
Bank Frick awards architecture contract for new head office
Bank Frick has closed the architectural competition for its new head office in Unterbendern. It will realise the designs of a planning team led by Bernardo Bader Architekten – with construction to begin in early 2028.
Bank Frick receives licence and opens branch in Dubai
Bank Frick has received its requested licence from the Dubai Financial Services Authority (DFSA) for a branch in Dubai. This strengthens its position as a product leader and enables it to tap into the strong growth potential of this financial centre.
Bank Frick is playing in the Champions League with its offering for its employees
In Space 4U, Bank Frick has created a place where employees can come together across departments, try out new things and inspire one another. Be it exercise, creativity or shared experiences: the offering is diverse and actively shaped by employees. A multifunctional room offers contemporary training facilities and space for creative exchange. Experts agree: this makes Bank Frick a pioneer throughout Switzerland and Liechtenstein.
Bank Frick extends its sponsorship of the LieMudRun by five years
Almost all tickets for this year’s LieMudRun were already sold out. Due to the continued high demand and great popularity of the obstacle run, Bank Frick is extending its sponsorship for another five years.
Bank Frick wins two Gold Dolphins in Cannes
Bank Frick bags two awards at the Cannes Corporate Media & TV Awards 2025 with its “Doing things differently” corporate film.
Bank Frick generates net profit of 4.5 million francs
Bank Frick generated a net profit of 4.5 million francs in the first half of 2025. It is thus achieving its budget targets and generating stable income in a difficult market environment. This performance confirms that the Bank is on the right track: Bank Frick is still forecasting an annual profit of 9 million francs.
Bank Frick receives ISO 27001 certification for the highest level of security
Bank Frick has received the internationally recognised ISO 27001 certification, which is a strong sign of its commitment to information security. The award confirms the Bank’s high standards when it comes to protecting sensitive data and strengthens its position as an innovative and trustworthy partner in the finance industry.
Bank Frick plans its new head office in Bendern
Bank Frick has received approval from the municipality of Gamprin for a building lease plot in Unterbendern. Once completed, its new head office will have room for up to 700 employees. The new building will meet the Bank’s growing need for space, bring its employees back together at one location and use a multifunctional, future-oriented solution.