The Berlin-based bank, solarisBank announced that they will be offering a new banking platform for businesses in the European Union dealing in the Cryptocurrency Market. The bank has received necessary licenses and is launching a new platform which will allow the users of cryptocurrency to easily manage their business and operations.
solarisBank blockchain factory: Bridging the gap
The bank has named this new platform as “solarisBank Blockchain Factory” and it aims to drive forward the vision of decentralized and contextual banking. 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 and will form a technological and regulatory bridge between the worlds of banking and blockchain. This will also make solarisBank the specialized infrastructure partner of choice for companies in the cryptocurrency and blockchain industry.
The platform would also be providing services for global cryptocurrency marketplaces called the solarisBank ‘Automated Trust Account‘ which will be an automated escrow account for cryptocurrency marketplaces. This account would make it easier for marketplaces to buy and sell fiat currencies. Further services in the field of digital banking and debit cards for blockchain companies are currently being integrated by other corporate customers.
Roland Folz, CEO of solarisBank was quoted in the press release saying that,
“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 licence we are the natural partner.”
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solarisBank believes in the hybrid future where cryptos and fiats co-exist
If Peter Grosskopf, CTO of solarisBank and the key man helm for Blockchain Factory division, is to be believed, the company is currently working and rolling out services which they feel could work fabulously if cryptocurrency and fiats co-exist. To quote him
“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”
When solarisBank bank was set up in 2016, it became 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.
“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.”
said, Peter Grosskopf.
Will solarisBank be able to succeed in a hybrid environment or is it a time when specialized banks are established for cryptocurrency and blockchain business? Do let us know your views on the same.