solarisBank has launched a blockchain factory to form a technological and regulatory bridge between banking and blockchain.
The solarisBank Blockchain Factory will be used by the Berlin-based bank to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology.
Services for global cryptocurrency marketplaces will be made available to make it easier to buy and sell fiat currencies; such as the solarisBank ‘Automated Trust Account’, an automated escrow account for cryptocurrency marketplaces.
“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”, says 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 licence we are the natural partner.”
The first cooperation has already begun with vPE Bank. Together, solarisBank and vPE enable institutional trading of cryptocurrencies, while other services in digital banking and debit cards for blockchain companies are currently being integrated by other corporate customers. Cryptocurrency wallets and bank accounts can thus be combined in an integrated service offer.
Peter Grosskopf, CTO solarisBank, added: “It has always been the role of banks to safeguard customer assets in a trustworthy manner. Even in an age of decentralisation driven by blockchain technology, banks still need to take on this role. We provide the infrastructure which connects traditional banking with modern, digital services.”
Earlier this year, solarisBank bagged €56.6m in its Series B funding round. BBVA, Visa, Lakestar and ABN AMRO’s Digital Impact Fund contributed to make their first investments in company, while existing backers Arvato Financial Solutions and SBI Group also took part.
In the same month, solarisBank, the first banking platform with its own full banking license, picked zeb.control’s bank management software to combat risk. zeb.control said it will support solarisBank in present value and periodic interest rate risk management, liquidity risk management as well as monitoring of the risk-bearing capacity.
solarisBank also recently partnered with Alior Bank, Raisin and Mastercard to launch a new pan-European digital bank. The open API platform will leverage opportunities created from PSD2 and open banking.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
