Bank Frick processes cryptocurrency donations for Amnesty International
8 July 2021
Amnesty International, Swiss Section is now accepting cryptocurrency donations. These are being processed by Bank Frick of Liechtenstein. It has developed a model that can be used to check the origin of these transactions.
The Swiss section of human rights organization Amnesty International (Amnesty International, Swiss Section) is now accepting cryptocurrency donations. According to a press release, these are being processed by Bank Frick.
Marco Dolfini, Senior Partnership Manager at Amnesty International, Swiss Section is quoted as saying: “To guarantee that the donations are of secure origin, proven know-how and experience in the crypto sector are necessary. That’s why we turned to Bank Frick, which has developed a leading position in blockchain banking in recent years.”
According to the information provided, the bank headquartered in Balzers has developed a model that enables “reliable, regulatory-compliant and secure” acceptance of cryptocurrency donations. Nicolas Marxer, Head of Blockchain Banking at Bank Frick, explains in the press release: “We can allocate and track payments in cryptocurrencies.” The bank uses “the same strict legal standards” for this as for traditional financial transactions. The method means that donations could additionally be “accepted very quickly and exchanged for Swiss francs”.
In the first phase, Amnesty International, Swiss Section will accept the following cryptocurrencies: Bitcoin Cash, Litecoin and Stellar.