Germany-based solarisBank has launched Blockchain Factory, in a bid to the lead banking support for the blockchain and cryptocurrency industry.
This new service will provide a technological and regulatory bridge between the industries and will help to drive the adoption of decentralised and contextual banking.
Blockchain Factory will serve as a way for solarisBank to offer banking services to companies working with cryptocurrency and blockchain technology.
Founded in 2016, the company, which has a full banking license, provides digital banking, card services, credit services, payments and escrow API solutions. solarisBank is used in seven countries and by 60 corporate clients, but this is expected to hit 100 by the end of the year, according to the company.
The company provides banking technology to help other businesses to offer fully compliant financial services for their customers. Companies are able to pick and choose which banking services they want, which include bank accounts, KYC services, algorithmic scoring, transactions, and payment cards, among others.
solarisBank CEO Roland Folz said, “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 support building for global cryptocurrency markets to make trading of tokens easier. solarisBank’s Automated Trust Account is a key example, with it serving as an automated escrow account for cryptocurrency marketplaces.
The first cooperation in this area was solarisBank and vPE which enable the institutional trading of cryptocurrencies. There are also a number of digital banking and debit cards for blockchain companies being integrated by corporate customers, and will enable crypto wallets to be integrated with these services.
solarisBank CTO and manager for the Blockchain Factory Peter Grosskopf said, “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.”
Earlier in the month, solarisBank teamed up with Alior Bank, Raisin, and MasterCard to launch a new pan-European digital bank.
Also this year, the challenger bank raised €56.6m in its Series B funding round, following investments from BBVA, Visa, Lakestar and ABN AMRO’s Digital Impact Fund.
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