- February 24, 2019
- Posted by: giancarlo
- Category: News
Per the release, DLT Markets “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.”
The phrase “as they are used to from the traditional securities” business is key here, as in order for banks to enter the crypto space, they will need familiar infrastructure in place.
Bank Frick CEO Edi Wögerer went on to elaborate:
“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.”
Roger Wurzel was announced the CEO of DLT Markets. Wurzel worked previously in Business Development at the bank, and reportedly has experience in trading cryptocurrencies. Before joining Bank Frick, Wurzel worked internationally for more than twenty years at Deutsche Bank in equities and derivatives trading.
The Business Development part of DLT Markets will be run by Markus Besler, who was previously a blockchain project developer for Bank Frick, and a co-founder of Styxchange, a cloud-based accounting company for blockchain solutions.
Founded in 1998 and headquartered in Balzers, Bank Frick reportedly manages about 3.81 billion francs (or roughly USD $3.2 billion). In February of last year, the bank began offering direct investment in and cold storage of five different cryptocurrencies — Bitcoin, Ether, Bitcoin Cash, Litecoin, and Ripple.