Liechtenstein-based Bank Frick and Hong Kong-based advisory firm AmaZix have announced a partnership. That shows that both Liechtenstein’s and Bank Frick’s efforts in the blockchain space have been noticed internationally.

“AmaZix is excited to announce its latest partnership with ‪blockchain banking pioneers ‪Bank Frick, who have been building an expert reputation for providing cutting-edge blockchain banking services,” reads AmaZix’s announcement on Twitter.

Bank Frick was the first bank in Liechtenstein to offer cryptocurrency and blockchain-specific products and advisory services. Over the last years, it has built up a reputation that goes beyond Liechtenstein’s borders. The partnership with AmaZix proves that.

Jonas Karlberg, CEO of AmaZix, feels confident in his new banking partner. “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,” he says.

AmaZix provides ICO and STO advisory services

AmaZix provides advisory services to companies undertaking blockchain-based fundraising. “The industry experts at AmaZix have helped more than 100 cryptocurrency startups raise over a combined $1.3B,” claims the company on its website.

AmaZix provides a wide range of services from community and social media management to translations and whitepaper editing. In future, the company will refer its clients directly to Bank Frick as their banking partner.

AmaZix will in turn offer its blockchain expertise to Bank Frick’s clients. “At Bank Frick, we recognized the potential of these [blockchain] innovations and moved early to secure ourselves in blockchain banking, for which we are specialized in now,” says Fabio Tomaschett, ICO Head of Bank Frick. “Through this formal relationship, we will recommend to AmaZix projects that require their services.”

Banking is still a challenge for most blockchain businesses

Bank Frick’s success in the blockchain space shows how difficult it is for blockchain companies to do business with banks in other jurisdictions.

Paolo Anziano, CFO of AmaZix, explains, “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 blockchain and cryptocurrency [industry].”

These struggles are the reason why AmaZix reached out to Bank Frick. “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 […] Bank Frick was also the first to offer custodial services for Bitcoin,” explains CEO Jonas Karlberg.

Besides the strengths of Bank Frick as a banking partner, he also pointed out the advantages of Liechtenstein as a location for blockchain businesses. Karlberg mentioned especially Liechtenstein’s membership in the European Economic Area and the customs Union with Switzerland, which means that clients have access to both the Swiss and EU markets via passporting.

The partnership between Bank Frick and AmaZix is good news for Liechtenstein. It adds additional expertise to the marketplace and fosters Liechtenstein’s reputation as an international blockchain hub. It also shows that both Liechtenstein’s and Bank Frick’s efforts have been noticed internationally.

 

Image: ©Bank Frick