solarisBank launches Blockchain Factory to serve cryptocurrency industry
solarisBank, the first banking platform with a full banking license, today announced the launch of the “solarisBank Blockchain Factory”. With this move, the Berlin-based technology company is extending its range of services and aims at forming a technological and regulatory bridge between the worlds of banking and blockchain.
The Blockchain Factory will be used by solarisBank to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology. One example of these services is the ‘Blockchain Company Account’ for the banking business of blockchain companies.
Furthermore, 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. 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.”
The first cooperation in this field has already begun with vPE Bank. Together, solarisBank and vPE enable institutional trading of cryptocurrencies. Further services in the field of 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.
“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. It has always been the role of banks to safeguard customer assets in a trustworthy manner. Even in an age of decentralization driven by blockchain technology, banks still need to take on this role. We provide the infrastructure which connects traditional banking with modern, digital services.”
When it was set up in March 2016, solarisBank was one of the first finance technology companies with a full banking license. Since then, the company has established its “Banking as a Platform” concept at an international level. Services in the field of blockchain and cryptocurrencies provided via the “solarisBank Blockchain Factory” are the next strategic step. Alongside the cooperation with vPE Bank, other partnerships are already in the implementation process and are expected to be launched over the course of the year.