Europe-based blockchain bank, Bank Frick has announced the addition of a stablecoin, USD Coin (USDC), to its range of tradable and custodial cryptocurrencies. The Bank states that it will now be able to offer professional market participants and wealthy private clients the trading and safekeeping of the USDC.
“With the addition of USDC, we enable our customers to process USD payments quickly and token-based. Compared to the classic SWIFT procedure, the processing time is significantly reduced”, said Stefan Rauti, Head of Blockchain Banking at Bank Frick. “This underlines our claim to be the leading blockchain bank in Europe.”
According to the Bank, the USDC was developed by the CENTRE consortium. It is linked to the US dollar and deposited at a ratio of 1:1, thus ensuring its price stability. The accounting firm, Grant Thornton, is responsible for the stablecoin’s audit. The new selection of tradable and custodial cryptocurrencies from Bank Frick now includes Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), Ether (ETH), Ethereum Classic (ETC), NEM (XEM), Qtum (QTUM), Stellar (XLM) and USD Coin (USDC).
Recently, Bank Frick announced the expansion of its range of cryptocurrencies for trading and custodian services with the offering of trading and custody of Bitcoin Cash (BCH) to market participants and private clients.
Liechtenstein-based Bank Frick specialises in banking for intermediaries. The Bank provides a fully integrated offering of classic banking and blockchain banking services. Its clients include FinTechs, asset managers, payment service providers, family offices, fund promoters, pension funds and fiduciaries.