Bankhaus Scheich Wertpapierspezialist AG: Fully regulated trading of crypto assets
DGAP-Media / 18.08.2020 / 07:00
Finoa and Bankhaus Scheich enable professional trading of crypto assets
– For the first time, the Frankfurt securities specialist enables professional investors to buy and sell crypto-assets under the brand tradias – trading digital assets.
– In addition to crypto-currencies such as Bitcoin, digital securities will soon be offered as well
– Custody and settlement are carried out with specialised solutions from the Berlin-based financial services provider Finoa
Frankfurt am Main/Berlin, August 18, 2020: Bankhaus Scheich Wertpapierspezialist AG, together with Finoa GmbH, one of Europe’s leading providers of financial services for digital assets, offers the trading of crypto-assets from secure custody. A certificate-like digital security (ISIN: DE000A276T93) with a share of a DAX30 company as underlying security was issued in a joint project with the tokenisation specialist Cashlink already at the beginning of the year.
The jointly developed service is thus unique in the EU and offers institutional investors and companies the opportunity to trade digital assets from a single source and in a secure and regulated environment. The cooperation underlines the common goal of offering institutional investors professional access to the asset class of digital securities and assets in full.
As early as 2018, Finoa started to develop the innovative custody solution that will enable institutional and professional investors to safely hold and manage their digital assets without compromising the necessary flexibility and accessibility of the assets.
The crypto-asset trading offering brings Finoa and Bankhaus Scheich closer to their goal of providing clients with a trusted “all-in-one” platform for all investor needs related to digital assets. Trading and custody are natural complements: institutional investors want to buy/sell assets directly from safe custody (in-custody trading) without having to expose themselves to multiple transaction and counterparty risks in multiple trading venues. Finoa’s collaboration with Bankhaus Scheich achieves just that. Legally, trading for Finoa clients is set up as a separate OTC offering under the tradias brand with Bankhaus Scheich. In the medium term, trading orders will be integrated into Finoa’s technology in order to enable efficient execution with one counterparty across multiple trading venues at the best price directly from the digital asset depository.
“With Finoa we have an agile and secure crypto custodian as our partner. In the area of digital assets custody we perceive Finoa as a technical innovation leader within the EU, especially in the BaFin regulated environment,” emphasizes Boris Ziganke, Member of the Board & COO of Bankhaus Scheich.
“The connection and provision of liquidity has always been the logical next step in our vision to provide institutional investors and companies with a custody and asset servicing solution. In Bankhaus Scheich, we are proud to have won a partner who has proven its experience and expertise in the trading of financial instruments as one of the leading market makers on the Frankfurt Stock Exchange (FSE) in its more than 35-year successful corporate history,” says Finoa co-founder & Managing Director Henrik Gebbing.
About Bankhaus Scheich Wertpapierspezialist AG Bankhaus Scheich was founded in 1985 and is one of the leading securities trading banks on the Frankfurt Stock Exchange (FSE) today. The owner-managed bank is active in the business areas Designated Market Making, Capital Markets, Fixed Income Trading for Institutional Clients, Sales & Trading and Consulting. The expansion to include the area of digital assets under the tradias – trading digital assets – brand underscores the bank’s claim to take account of increasing digitalisation through innovation and organic, continuous growth.
About Finoa GmbH Finoa is a regulated custodian of digital assets and offers custody, prime brokerage and staking services to professional investors. The platform enables users to securely store and manage their crypto assets while providing a directly accessible, highly intuitive and unique user experience that enables direct access to the decentralized finance (DeFi) ecosystem. Finoa was founded in 2018 and is based in Berlin. Finoa is a qualified crypto-custodian according to §64y Sec. 1 KWG and is supervised by the German Federal Financial Supervisory Authority (BaFin).