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Hauck Aufhäuser Lampe receives preliminary permission as registrar for crypto securities and crypto fund units and issues first crypto security
Frankfurt, 04/05/2022 – Hauck Aufhäuser Lampe Privatbank AG issued its first crypto security in its role as registrar on April 4. As the issuer, the bank acts as the registrar as specified in the German Electronic Securities Act “Gesetz über elektronische Wertpapiere” (§ 16 para. 2 eWpG). Previously, the bank had been one of the first traditional financial institutions to receive provisional permission from the German Federal Financial Supervisory Authority (BaFin) to commence business as a crypto securities registrar. This enables Hauck Aufhäuser Lampe from now on to register other issuers' crypto securities and crypto fund shares in the crypto securities register.
"We have worked intensively for one and a half years to establish a comprehensive asset management and asset servicing setup for crypto assets along the entire value chain – from portfolio management to the capital management company and accounting to risk management and custody as well as depository," says Holger Sepp, Member of the Management Board at Hauck Aufhäuser Lampe. As part of the overall corporate strategy for digital assets, the bank received permission for the crypto custody business last week through the acquisition of Kapilendo Custodian AG. Furthermore, since February 2022, the bank has been operating a fully-regulated capital management company for crypto assets through Hauck Aufhäuser Innovative Capital GmbH. With the first crypto securities transaction, the bank is now taking the next step.
"Crypto securities and crypto fund units are yet another component of our digital asset strategy. Our range of different services for digital assets is unique in Germany. At the same time, our latest permission also demonstrates that, in addition to our offering for cryptoassets, we are also digitising our core business using blockchain technology," explains Simon Seiter, Head of Digital Assets at Hauck Aufhäuser Lampe. "We are benefiting from our integrated approach: especially for crypto fund units, we can use both the bank's existing depository function and the newly acquired crypto custody business – this clearly differentiates us from other providers in the market."
Crypto securities and crypto fund shares are made possible by the introduction of the “Gesetz für elektronische Wertpapiere” (eWpG). The legislator had thus introduced the possibility to file for a provisional commencement of business. The transaction of Hauck Aufhäuser Lampe was supported by EY Law led by Dr Johannes Blassl. The technical execution was supported by xpecto AG and Cashlink Technologies GmbH.
HAUCK AUFHÄUSER LAMPE can look back on 226 years of tradition. The house emerged from the merger of three private banks rich in tradition: Georg Hauck & Sohn Bankiers in Frankfurt am Main, founded in 1796, Bankhaus Lampe, founded in Bielefeld in 1852, and Bankhaus H. Aufhäuser, on the market in Munich since 1870. The two houses Georg Hauck and Bankhaus H. Aufhäuser merged in 1998, Bankhaus Lampe was added in 2021. The Bank's Management Board consists of the Chairman of the Management Board Michael Bentlage and the members of the Management Board Oliver Plaack, Madeleine Sander, Dr. Holger Sepp and Robert Sprogies. HAUCK AUFHÄUSER LAMPE sees itself as a traditional and at the same time modern private bank.
The private bank focuses on the four core business areas of private and corporate banking, asset management, asset servicing and investment banking. The Asset Servicing business segment of HAUCK AUFHÄUSER LAMPE comprises the Financial Assets and Real Assets divisions. Here the bank offers all services related to the administration of investment products for independent asset managers, financial service providers, institutional investors, asset managers and management companies with a focus on Germany, Luxembourg, Switzerland, Austria and Ireland.
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