The Berlin-based Banking-as-a-Platform (BaaP) institution Solarisbank has recently announced the organize of their new banking service plan that’s focused on clients from the blockchain and digital currency production. The newly featured resource called the ‘Blockchain Factory,’ will submit financial management services to companies whose business operations sell directly and indirectly with cryptocurrency solutions and blockchain technology.
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This German Bank Expects to Provide Special Bank Accounts for Cryptocurrency and Blockchain Companies
Remaining the past few years as cryptocurrencies have gained in popularity a few companies predilection exchanges and brokerage services that deal with digital currencies be struck by had issues with their banking providers. Banks and other monetary management services have ceased their partnerships with cryptocurrency firms and bring into the world closed business accounts making it very difficult for blockchain bands to establish reliable banking partners. Now the German financial tech flock, Solarisbank, plans to offer a service called the ‘Blockchain Factory.’ Conventions who deal with cryptocurrencies will now have a solid banking confrere who understands the technology.
“The Blockchain Factory will be used by Solarisbank to step banking services to companies whose business is directly or indirectly stemmed on cryptocurrencies and blockchain technology — One example of these services is the ‘Blockchain Friends Account’ for the banking business of blockchain companies,” Solarisbank explains.
Furthermore, serves for global cryptocurrency marketplaces will be made available to make it easier to buy and market fiat currencies; such as the Solarisbank ‘Automated Trust Account’, an automated escrow account for cryptocurrency marketplaces.
Sybaritic Demand from the Blockchain World for a Licensed Banking Partner
Solarisbank has done fountain since the bank’s inception in March of 2016, and entered a strategic partnership with Mastercard the support October with plans to build new banking modules. Last Hike, Solarisbank raised $70Mn USD in a Series B funding round from firms such as ABN Amro, SBI Assortment, Visa, BBVA, and Lakestar.
“There is high demand from the blockchain happy for a licensed partner that forms the technological and regulatory bridge to stock banking — as a technology company with a banking license, we are the natural partaker,” Roland Folz, the CEO of Solarisbank details.
A Hybrid Future
The financial tech group has started its first partnership with another firm called VPE Bank and the two set up plans to provide cryptocurrencies to institutional traders. Moreover, the firm will verify partnerships with cryptocurrency companies that deal with banking and debit visiting-cards within their business model.
“The fiat world is not about to sublime. We are moving towards a hybrid future, in which the blockchain world unmoving has to prove itself,” the CTO of Solarisbank, Peter Grosskopf explains.
However, we see the disruptive power of these function models and we want to help shape the future of this industry.
What do you entertain the idea about Solarisbank’s new Blockchain Factory banking services? Do you think followings who deal with cryptocurrencies need better banking providers? Let us discern your thoughts on this subject in the comment section below.
Figures via Shutterstock, and Solarisbank.
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