German Banking Platform solarisBank Launches “Blockchain Factory” to Serve Crypto Industry
solarisBank, a licensed banking platform, has launched the solarisBank Blockchain Factory and extended its range of services to become “the specialized infrastructure partner of choice for companies in the cryptocurrency and blockchain industry.”
The Blockchain Factory will be used to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology.
Examples of these services are the Blockchain Company Account for the banking business of blockchain companies, the Automated Trust Account, an automated escrow account for cryptocurrency marketplaces that allows them to easily buy and sell fiat currencies, and the Regulatory and Legal Platform, which includes services such as monitoring of transactions and know-your-customer (KYC) procedures.
Commenting on the launch, Peter Grosskopf, CTO of solarisBank, who will manage the Blockchain Factory, said:
“The fiat world is not about to dissolve. We are moving towards a hybrid future, in which the blockchain world still has to prove itself. However, we see the disruptive power of these business models and we want to help shape the future of this industry.”
“While we at solarisBank are still part of the traditional paradigm, since we have a German banking license and are regulated by BaFin, we are still a tech company at our core.”
The first cooperation in this field has already begun with vPE Bank, a securities trading bank from Germany. In April, vPE Bank launched regulated cryptocurrency trading services for institutional investors. The firm’s automated cryptocurrency trading product was developed in partnership with solarisBank.
Other partnerships for services in the fields of digital banking and debit cards for blockchain companies, among others, are in the implementation process and are expected to be launched in the course of the year, solarisBank said.
Founded in 2016, Berlin-based solarisBank is a banking platform with a full banking license, allowing companies to offer their own financial products. Partners can access the solarisBank modules in the field of e-money, instant credit and digital banking as well as services from third-party providers integrated on the platform via API.
After establishing its Banking as a Platform concept at an international level, solarisBank said that tapping into the thriving cryptocurrency and blockchain industry with the Blockchain Factory was the next strategic step.
“For more than two years, solarisBank has made contextual banking possible – modern financial services are integrated via interfaces (APIs) in the existing range of services for companies and made available to customers whenever and wherever they are needed. Services offered by the solarisBank Blockchain Factory in the field of blockchain and cryptocurrency are the next strategic step,” said Roland Folz, CEO of solarisBank.
“There is high demand from the blockchain world for a licensed partner that forms the technological and regulatory bridge to traditional banking – as a technology company with a banking license we are the natural partner.”