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Author Topic: [2018-03-03] Liechtenstein's Bank Frick is Offering Crypto Investments and Cold  (Read 57 times)
FollowSynergy
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March 03, 2018, 07:55:39 AM
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Liechtenstein's Bank Frick is Offering Crypto Investments and Cold Storage

Liechtenstein-based Bank Frick is now giving its clients the ability to buy Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum, while also promising to secure their cryptocurrency purchases from cyber attacks with backed-up cold-storage wallets.

You Don't Have to `Be Your Own Bank'

While many of Europe’s larger banks have taken a negative stance towards digital currencies, Bank Frick – a small independent family-run bank in Liechtenstein – is opening its doors to clients looking to invest in the young cryptocurrency market. Explained Chief Client Officer Hubert Büchel:

*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. Our goal is to bring crypto banking at least to the level of quality of classic banking.*

According to ZeroHedge, Bank Frick is also protecting clients’ cryptocurrencies with cold storage wallets – widely considered to be the safest option for protecting cryptocurrency investments long-term, thanks to their offline nature. Additionally, backup copies of clients’ wallets will be stored in a “geo-redundant and secure manner.”

Bank Frick’s new offering is set to open cryptocurrency’s doors to a whole new base of clients. Explains Büchel:

*With our new offering, financial intermediaries such as asset managers and trustees can successfully differentiate themselves in the market and offer their customers added value. Intermediaries and their clients can easily get to know a new, exciting universe with these direct purchases, diversifying them and investing them without correlation to other asset classes. Investments in cryptocurrencies are highly speculative, which is why only a small amount of admixture in the portfolio is advisable.*

Playing By The Rules, Ahead of The Curve

Bank Frick is not only looking to protect their clients’ investments, but also their own operations.

The bank is regulated according to both Liechtenstein and EU/EEA law and will safeguard itself from money laundering or other criminal activity by thoroughly ensuring funding sources are legitimate.

Bank Frick has long been taking a crypto-friendly focus, effectively putting themselves ahead of the curve when compared to Europe’s big banks. Chief Executive Edi Wögerer previously stated:

There are risks involved but there are also really big opportunities. We know what to do from a security perspective so this is a big opportunity for banks like us.

Wögerer also previously claimed that larger banks were “scared” of crypto and that “because they don’t understand them, they feel threatened.”

http://bitcoinist.com/liechtensteins-bank-frick-offering-cryptocurrency-investments-cold-storage/
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March 03, 2018, 09:37:51 AM
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Banks in Liechtenstein used to one of the safe havens for those millionaires and billionaires keeping their money offshores, away from the prying eyes of the government, however its losses its grip because of Bank Reforms. But I still believed that their financial system is very strong. And now venturing to offer to become another safe haven is a welcoming to all of us crypto enthusiast. I don't know though if they are going to share information just like they did when they opened up numerous accounts because of tax evasion allegations of some of his clients.

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March 03, 2018, 09:58:28 AM
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Banks in Liechtenstein used to one of the safe havens for those millionaires and billionaires keeping their money offshores, away from the prying eyes of the government, however its losses its grip because of Bank Reforms. But I still believed that their financial system is very strong. And now venturing to offer to become another safe haven is a welcoming to all of us crypto enthusiast. I don't know though if they are going to share information just like they did when they opened up numerous accounts because of tax evasion allegations of some of his clients.

I have read somewhere that their prince was looking into investing in crypto sometime in the future. he talked about it as a way for their country to recover some of the wealth that they lost from the last world war. could this possibly be a sign that they are using whatever influence they have to signal a move towards the direction their prince is planning to take?
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March 03, 2018, 10:26:18 AM
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Banks in Liechtenstein used to one of the safe havens for those millionaires and billionaires keeping their money offshores, away from the prying eyes of the government, however its losses its grip because of Bank Reforms. But I still believed that their financial system is very strong. And now venturing to offer to become another safe haven is a welcoming to all of us crypto enthusiast. I don't know though if they are going to share information just like they did when they opened up numerous accounts because of tax evasion allegations of some of his clients.

I have read somewhere that their prince was looking into investing in crypto sometime in the future. he talked about it as a way for their country to recover some of the wealth that they lost from the last world war. could this possibly be a sign that they are using whatever influence they have to signal a move towards the direction their prince is planning to take?

Its been what? Its like 80 years old already so I don't think they can still recover what they have lost during the last big War. Care you share though the links? It sounds like this is a plot from a movie or something. LOL. If I'm the prince then I would go that route, Liechtenstein is not a tiny nation if my history lesson class professor is correct, but the Royal Family is one of the richest in Europe so I don't think that they need to chase something that was totally lost and forgotten. So for me, NO, it doesn't make sense at all to used crypto or opening their doors to it for some relic hunting.

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March 03, 2018, 10:47:41 AM
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Banks in Liechtenstein used to one of the safe havens for those millionaires and billionaires keeping their money offshores, away from the prying eyes of the government, however its losses its grip because of Bank Reforms. But I still believed that their financial system is very strong. And now venturing to offer to become another safe haven is a welcoming to all of us crypto enthusiast. I don't know though if they are going to share information just like they did when they opened up numerous accounts because of tax evasion allegations of some of his clients.

I have read somewhere that their prince was looking into investing in crypto sometime in the future. he talked about it as a way for their country to recover some of the wealth that they lost from the last world war. could this possibly be a sign that they are using whatever influence they have to signal a move towards the direction their prince is planning to take?

Its been what? Its like 80 years old already so I don't think they can still recover what they have lost during the last big War. Care you share though the links? It sounds like this is a plot from a movie or something. LOL. If I'm the prince then I would go that route, Liechtenstein is not a tiny nation if my history lesson class professor is correct, but the Royal Family is one of the richest in Europe so I don't think that they need to chase something that was totally lost and forgotten. So for me, NO, it doesn't make sense at all to used crypto or opening their doors to it for some relic hunting.

Sorry, I can no longer recall the exact article that alluded to what I mentioned above. I was mostly interested that time about what he shared regarding blockchain technology being a helpful tool for the day to day running of their state. More leaders positively opening up to blockchain and crypto may mean better prospects for the technology.
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