Bankhaus Scheich, which is very active in the crypto business, with its crypto service platform Tradias, is entering into a strategic cooperation with UI Enlyte, which belongs to the fund company Universal.

The aim is to further promote the offering of crypto assets and to ensure availability and liquidity on the platforms.

UI Enlyte is the "digital twin" of Universal Invest, said Enlyte CEO and co-founder Daniel Andemeskel of the FAZ. The task is to bring the existing products into a new, digital form.

Martin Hock

Editor in Business.

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With the cooperation with the bank Scheich Enlyte, another building block for an open ecosystem for digital assets and funds is being implemented.

The bank and Tradias are to serve as trading partners for cryptocurrencies and as market makers for various digital assets.

UI Enlyte creates additional opportunities with a view to the secondary market and expands the tradable investment universe.

Institutional investors thus gained access to crypto assets.

It is another important building block for the holistic and open ecosystem that one wants to provide, which enables all process steps from customer identification and verification to administration, reporting and brokerage to custody via wallets.

When it comes to integrating crypto technology with the conventional financial industry, there is currently still a problem with implementation.

The traditional industry companies shy away from high investments in a technology for which the current demand is rather manageable.

But as long as industry holds back, demand will remain manageable.

Private products in particular are currently being digitized or “tokenized”.

A paradigm shift is needed to cut this Gordian knot, says Andemeskel.

A complementary approach is necessary - that's why Enlyte should also act as a "digital twin" of Universal.

He will be finally ready in about ten years.

And Andemeskel is optimistic.

Politicians, especially German ones, support the process because they want to play a central role in the new capital market.

Politicians and governments are more advanced than the private market in this regard.

It is now a matter of questioning the status quo and not imitating Asia or the USA.