Crypto certificate as a token and classic security – Bank Frick and Bitcoin Suisse present innovative product
Bank Frick is issuing an active BTC-ETH tracker, with Bitcoin Suisse acting as the blockchain service provider and prime crypto broker. As of today, the certificate is available as both a classic security and a token and is thus suitable for traditional and blockchain-savvy investors. Its underlying assets are Bitcoin (BTC) and Ether (ETH). Qualified investors can thus diversify their portfolios in a simple manner with cryptocurrencies.
Raphael Haldner, Head of Funds and Capital Markets at Bank Frick, and Stefan Lütolf, Head of Trading & Brokerage at Bitcoin Suisse.
Balzers (LI) – As of today, Bank Frick is providing qualified and institutional investors access to an active BTC-ETH tracker, which has been developed with the help of the technical expertise of Bitcoin Suisse. What sets this product apart is its future-oriented design – the certificate is issued both as a classic security and as a token. Professional investors are provided with a simple opportunity to participate in cryptocurrencies – the certificate is accessible via ISIN and ERC20 token.
The active BTC-ETH tracker is also managed actively. Bank Frick and Bitcoin Suisse form an investment committee that decides on the weighting of the included underlying assets on a quarterly basis. Changing market conditions are taken into account as part of this process. Upon the start of trading today, the crypto certificate is equally weighted. The investment objective of the active BTC-ETH tracker is to participate in the performance of the underlying assets across its two-year term.
Security and expertise
As issuer, Bank Frick is responsible for the issuing of the crypto certificate, which is aimed exclusively at qualified investors. Bitcoin Suisse acts as crypto broker and is responsible for the execution of the BTC and ETH transactions via the global crypto exchanges. Stefan Lütolf, Head of Trading & Brokerage at Bitcoin Suisse, is convinced of the merits of the joint development: “With the active BTC-ETH tracker, we demonstrate our joint expertise and provide investors with a new form of capital market access.” The cryptocurrencies will be held in safe custody by Bitcoin Suisse using cold storage and multi-signature solutions.
Future-oriented capital market solution
The issuing of the active BTC-ETH tracker as both a classic security and a token is pioneering. The two European first movers in the field of crypto financial services, Bank Frick and Bitcoin Suisse, are thus underlining their claim of developing innovative products in order to anchor blockchain banking on the market. “The product’s design demonstrates the innovative capacity that links Bank Frick and Bitcoin Suisse”, emphasises Raphael Haldner, Head of Funds and Capital Markets at Bank Frick. “With our certificate, professional market participants benefit from a future-oriented capital market solution.”
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 Bitcoin Suisse
Bitcoin Suisse is pioneering crypto-financial services since 2013. The company played a crucial role in the development of the crypto valley and the overall Swiss blockchain ecosystem. The services provided to the global institutional and private client base include Brokerage and Trading, Storage Solutions, Collateralized Lending, Crypto Financial Solutions and other related services such as Staking and Baking.
More than 80 employees in Switzerland and Denmark service private and institutional clients and develop inhouse technology. Bitcoin Suisse is a licensed financial intermediary incorporated in Switzerland, operating under Swiss law and according to AML (Anti-Money-Laundering) regulations.
Bank Frick & Co. AG
Sigvard Wohlwend, Head of Corporate and Market Communications
T +423 388 21 46
sigvard.wohlwend [at] bankfrick.li
Bitcoin Suisse AG
Nino Thommen, Head Marketing & Communication
T +41 79 122 54 02
Reception +41 41 544 12 51