Blockchain advisory AmaZix is pleased to announce the completion of a partnership with Bank Frick in Liechtenstein.
Blockchain — and its popular iteration of cryptocurrency — may still be a nascent sector, but even those in the traditional financial systems have come to see that therein lies the future of alternative finance. Among the pioneers from the conventional world of money are Bank Frick, who have been building an expert reputation for providing cutting-edge blockchain banking services.
Embracing the future
Understandably, many traditional banks have been hesitant to approach cryptocurrency because of their developing nature, with most jurisdictions still working out on how to classify these new digital assets. Bank Frick has differed In this respect, with their long-term vision and strategic approach ensuring they became a first-mover in crypto.
They were among the first in the world to offer innovative crypto-related products services, including in 2017, introducing Europe’s first certificate for professionals and financial intermediaries to invest in Bitcoin and Ether. Last year, they also participated in the development of the world’s first three crypto Alternative Investment Funds (AIFs) legally structured to European requirements.
“At Bank Frick, we recognized the potential of these innovations and moved early to secure ourselves in blockchain banking, for which we are specialized in now. We saw the same values in AmaZix, who are proponents of ultimate mainstream adoption. Through this formal relationship, we will recommend to AmaZix projects who require their services.”
– Fabio Tomaschett, Head ICO, Bank Frick
AmaZix CFO Paolo Anziano discussed the new partnership as a watershed moment for the company but also for the industry as a whole, noting that the most respected names in cryptocurrency have always pursued banking relationships to facilitate business, but always faced difficulty in doing so.
“Exchanges, especially, have generally met with eventual success. An example is Coinbase, who recently secured accounts with Barclays in the UK. But we’ve seen even the likes of Bitfinex and Kraken go through their struggles, as the banking industry continues to come to grips with the maturing fintech sector, including blockchain and cryptocurrency.
Bank Frick bucks that trend in many ways. Like AmaZix, they pursue long-term vision and strategic approaches, and have long recognized the innovative value of these new technologies and moved early to secure a position in blockchain banking.”
– Paolo Anziano, AmaZix CFO
AmaZix CEO Jonas Karlberg spoke with excitement at the latest partnership, promising more to come.
“We saw how, in a relatively short period of time, Bank Frick recorded a tremendous number of accomplishments. A strong bank, it is the only institution in Liechtenstein with acquiring licenses from Mastercard and Visa. Uniquely, EEA membership and a customs union with Switzerland mean that clients have easy access to both the Swiss and EU markets via passporting. Bank Frick was also among the first to offer custodial services for Bitcoin.
At AmaZix, we consider ourselves as a cover-all solution for tokenization needs and will be referring to Bank Frick banking customers that meet compliance levels required. We feel there really is no better banking partner at the moment, and for me, it is a great pleasure to be associated with a fellow pioneer at this level.”
– Jonas Karlberg, AmaZix CEO
About Bank Frick
Bank Frick is an enterprising bank which offers a range of services designed for financial intermediaries. The Bank has a wealth of expertise in the area of tailored fund solutions and specializes in cutting-edge blockchain banking services. With a comprehensive product palette, Bank Frick is able to provide everything from a single source and offer its clients one-stop banking.
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