Bank Frick – a private bank with its headquarters based in Balzers, Liechtenstein – is building its presence in blockchain for the banking sector by introducing a crypto token trading platform as a subsidiary called DLT Markets.
In a press announcement on February 20, Bank Frick CEO Edi Wögerer said of the move: “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 the traditional securities business.”
DLT Markets CEO Roger Wurzel said the platform was created with the primary goal to establish a fully regulated marketplace where institutional investors will be provided with “multi-exchange access” to digital token asset trading.
DLT Markets is the most recent of Bank Frick’s attempts at fostering a “future-oriented financial ecosystem” through efforts to strengthen the connection between blockchain banking and regulatory security. Prior to DLT Markets, the bank also formed a secondary Distributed Ventures AG to finance blockchain and fintech start-ups.
The tiny but rich European principality of Liechtenstein has been known in the past for attaining its wealth by being a tax haven.