Leonteq AG, a Swiss structured financial products firm; has announced a partnership with ICF BANK AG to offer digital assets to institutional investors as well as private clients in Germany and Austria. ICF Bank AG is a leading securities trading bank in Germany for the structuring and distribution of structured products for cryptoassets.
The initiative will provide investors with access to a total of 18 cryptocurrencies; including the leading ones, Bitcoin (BTC) and Ethereum (ETH). They can be sold in a securitized format in three countries, fintech announced.
Tracker certificates for these cryptoassets are now available to investors as products listed on Börse Frankfurt Zertifikate AG (Open Market), Leonteq detailed in a press release.
Sasha Rinno, Member of the Board of ICF BANK; noted that Leonteq is a recognized issuer of structured certificates and cryptoassets. “We pleased to work with them”, he said and stressed:
Through this collaboration with Leonteq, we are satisfying the interest of both institutional investors and private investors in cryptoassets. Note that investors in the DACH region (Austria, Germany and Switzerland) are showing a growing interest in digital asset transactions.
Leonteq and ICF Bank – partnership through the years
Tino Wendisch, head of cryptocurrency offering at Leonteq, noted that the fintech company currently covers about 76% of the total market capitalization of the new asset class in the German and Austrian markets. Bjorn Heidel, head of sales in the two countries; added that Leonteq and ICF Bank have been working together for many years to create a structured products market.
Swiss fintech was a pioneer in offering structured products for cryptoassets. The company issues tracker certificates and has been actively managing certificates for leading cryptocurrencies in Switzerland since 2017. In the same year, Leonteq also offered its clients a short tracker certificate; and in 2019, a reverse convertible currency in BTC.
ICF Bank provides institutional clients with professional services related to securities trading and capital markets. His business is also focused on market creation, execution and commercial trading for both domestic and international clients; as well as the development and calculation of customized indices.
Swiss banks bet on cryptocurrency
The cryptocurrency environment in Switzerland seems suitable for local banks as some of them have recently announced their intention to launch such services.
For example, back in May, a multinational investment bank – UBS Group – was considering giving its wealthy clients the opportunity to invest in digital assets at the end of 2021. However, the financial institution has warned of the notorious volatility of the cryptocurrency sector; and will allow customers to distribute “a very small fraction” of their total wealth.
Sygnum Bank – another Swiss financial institution – has announced that it will be the first bank to provide Ethereum 2.0 rates. The company explained that the staking services are fully integrated into its platform, highlighting the increased security.
Thus, according to recent announcements; some Swiss banks have launched or are planning to launch cryptocurrency related services in the near future.