«Bridging the worlds of blockchain banking and classic banking – We are the future of finance»
The borders between the worlds of blockchain banking and classic banking are becoming more and more fluid. Beneficiaries of the crypto boom are increasingly seeing the advantages that traditional, less volatile asset classes offer in terms of diversification and investment options. At the same time, classic financial intermediaries are increasingly interested in the dynamic new world of blockchain banking.
The international blockchain scene is generating new ideas and business models on a seemingly daily basis. Companies whose daily business revolves around cryptocurrencies or blockchain technology have an enormous need for business accounts and thus access to fiat currencies. Bank Frick delved into the subject of blockchain and fintech very early on and therefore has demonstrated expertise in this area – both in terms of technical issues and for questions about regulatory matters and compliance. As a result of this experience in blockchain banking, we are able to grasp the business ideas of crypto companies and are thus also in a position to establish a corresponding business relationship. As a bank, we are experiencing a veritable boom through these developments – although we proceed very selectively in granting accounts to clients in the blockchain area and follow a strict onboarding process.
From the crypto to the classic banking world
Successful crypto entrepreneurs and investors are increasingly scouting around for classic financial services, such as asset protection and diversification of the investment portfolio. It is important to these clients for their interlocutor to know how they made their money and at the same time to be able to advise them how they can grow and protect their crypto assets with the help of classic investments.
Cryptocurrencies have become respectable
Since the start of the coronavirus pandemic at the latest, digital money has been attracting the attention of the public. The topic has become mainstream, with even the tabloid media now reporting on cryptocurrencies. Crypto assets are becoming increasingly popular as an asset class – accompanied in equal measure by a growing demand for corresponding banking services. This is also confirmed by our observations on the market. Financial intermediaries are more and more frequently being asked by clients about blockchain projects or the ability to make initial investments in cryptocurrencies. We have built a very sophisticated infrastructure in this regard, one that offers our clients the greatest possible convenience without compromising on security.
Moreover, we are happy to act as the first point of contact in Liechtenstein for real-world reports or a review of case studies. We are pleased to offer our established processes to financial intermediaries and professional clients in order to help them develop potential business cases.
Close collaboration between Team Blockchain Banking and Team Classic Banking
The classical financial world is continuing its march towards consolidation with blockchain-based assets. Our Blockchain Banking and Classic Banking departments work closely together and continuously monitor the market to ensure that our solutions meet the quality requirements of our clients. Every day they work to develop additional ways to link the classical financial world with blockchain-based assets.
Trust and reliability as basic values
Whether blockchain banking or classic banking: in both areas, a long-term, successful business relationship is based on values, such as trust and reliability. As a bank that is entirely family run and has been on the market for more than 20 years, we will always be there for our clients regardless of whether in five years the world becomes all about tokenisation and cryptocurrencies or, contrary to expectations, the trend levels off or completely comes to an end. With one foot in the world of blockchain and the other in the world of classic banking, we have created a solid foundation and are ready for the future.
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