A licensed German Bank SolarisBank launched a service called SolarisBank Blockchain Factory, designed to provide banking services to companies whose activities are directly or indirectly related to cryptocurrency and blockchain technology.
In the scope of services under the new program services included: Bank account for blockchain-companies, automated trust account an escrow account for the cryptocurrency market platforms through which they can buy and sell Fiat currency and the regulatory and legal platform, including services such as transaction monitoring and KYC procedures.
Commenting on the launch of the program, the technical Director Peter Grosskopf (Peter Grosskopf), which governs the Blockchain Factory, said:
«The world of Fiat currency is not going to disappear. We are moving to a hybrid future in which the space of the blockchain has yet to defend yourself. However, we see the revolutionary force of these business models and want to participate in building the future of the industry».
«Despite the fact that SolarisBank yet belongs to the traditional paradigm, as we have a German banking license and we are regulated by BaFin, in spirit, we are a technology company».
The first user of the new service became a German vPE Bank engaged in securities trading. In April of this year, the vPE Bank has launched a regulated cryptocurrency trading services for institutional investors. Automated the company’s product was created in partnership with SolarisBank.
During the year, the new program will join other partners whose products now are in the process of integration.
SolarisBank was founded in the year 2016 in Berlin and has a General license to conduct banking operations, which allows it to offer its own financial products. Partners can access the modules solarisBank in the field of electronic money, instant credit and digital banking operations and third-party service operators, integrated on the platform via APIs.
According to General Director of the Bank of Roland Foltz (Roland Folz), the launch of Blockchain Factory is an important strategic step.
«In the space of the blockchain there is an acute demand for licensed partners making up the technological and regulatory bridge to traditional banks as a technology company with a banking license, we are the right partner,» he says.