The Liechtenstein bank with offices in London now offers crypto trading for five digital currencies as well as offline wallet safekeeping.
Bank Frick customers can now buy or sell Ethereum, Bitcoin, Bitcoin, Bitcoin Cash, Litecoin and Ripple, or simply deposit the assets in the bank for safekeeping in cold wallets.
“Our services are in high demand from companies across Europe. The companies know that we reliably support them in implementing their cryptocurrency and blockchain business models in accordance with existing European regulations, “explains Chief Client Officer Hubert Büchel.
“Our goal is to bring crypto banking at least to the level of quality of classic banking. With our new offering, financial intermediaries such as asset managers and trustees can differentiate successfully in the market and offer their customers added value »
The private bank specializes in providing financial services to an international clientele and is aimed at providing professional market participants and financial intermediaries.
Bank Frick says it was the first bank in Switzerland to launch a crypto currency basket tracker certificate in September 2017 based on Bitcoin and Ethereum.
And they are one of the first banks to offer direct crypto purchases now, as the popularity of digital currencies and the demand for crypto currencies continue to increase.
Another Swiss online bank, Swissquote, began offering crypto trading to its customers in June 2017 after partnering with Bitstamp.
More banks are likely to follow, especially as a number of global banks, which have recently admitted that cryptos pose a competitive threat, either directly or by not adapting to the demand for crypto services.