solarisBank bridges the gap with Blockchain Factory
Germany-based Banking-as-a-Service (BaaS) platform solarisBank has unveiled its Blockchain Factory as it seeks to be a tech bridge between the worlds of banking and blockchain.
Roland Folz, CEO of solarisBank, says: “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 factory will be used 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 firms.
Furthermore, services for global cryptocurrency marketplaces will be made available to make it possible to buy and sell fiat currencies; such as the solarisBank “Automated Trust Account”, an escrow account for cryptocurrency marketplaces.
The first cooperation in this field has already begun with vPE Bank. Together, the duo will enable institutional trading of cryptocurrencies.
There are no specifics yet but solarisBank says 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”, says Peter Grosskopf, CTO of solarisBank, who will manage the Blockchain Factory.
Momentum
solarisBank was set up in March 2016 and has been staying busy.
Earlier this month, Poland’s Alior Bank teamed with solarisBank, Raisin and Mastercard to unleash a pan-European digital bank.
While back in March, solarisBank completed a Series B funding sound, raising €56.6 million. The investors included ABN Amro, Visa, Lakestar and BBVA.
