SolarisBank Offers Bank Accounts to EU Crypto Firms

SolarisBank Offers Bank Accounts to EU Crypto Firms

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 named this new platform as the Blockchain Factory. This platform is meant to bridge the gap between the banking and cryptocurrency world. This will allow the users of cryptocurrency to easily manage their business and operations.

These Blockchain Factory Accounts are meant specifically for those companies whose businesses directly or indirectly involve the use of blockchain and trading in cryptocurrencies. In the recent past, a lot of banks in the European Union have ended their programs towards cryptocurrency. This is because of issues with the firms or higher regulations. In such a situation, solarisBank’s platform comes as a relief for a lot of businesses.

Ronald Folz, the CEO of solarisBank says,

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.

One of the services that solarisBank will offer through this platform is the ‘Blockchain Company Account’ for the banking of Blockchain Companies. Also, the ‘Automated Trust Account’ will serve as an automated escrow account for crypto marketplaces.

solarisBank has also entered into a partnership with vPE to provide cryptocurrencies for institutional trading. The bank also wants to provide services in the area of digital banking and debit cards to cryptocurrency firms that incorporate these things into their business models.

According to the CTO of solarisBank, Peter Grosskopf,

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, he does recognize the disruptive power of the blockchain and cryptocurrency business models. He explains that the bank wants to play a role in shaping the future of this industry and states that even in this changing world and the shift towards blockchain and cryptocurrency technology, banks have to safeguard customer assets in a trustworthy manner.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.