The German-based Banking-as-a-Platform (BaaP) institution, Solarisbank proclaimed a launch of a new banking service plan that will majorly concentrate on customers from the digital currency and blockchain industry. The newly depicted resource known as "Blockchain Factory" will provide financial management services to all willing companies whose business activities deal indirectly and directly with blockchain tech and crypto solutions.
As Cryptocurrency gains more popularity, fewer companies such as brokerage services and exchanges have experienced many issues with their banking providers. Some financial management services and banks have stopped their partnerships with the majority of crypto exchanges and some have terminated business accounts making it extremely hard for blockchain firms to institute dependable banking partners.
Solarisbank, the German financial technology company focuses to provide a great service dubbed "Blockchain Factory" which will make all platforms that deal with cryptos to have a perfect banking colleague who is well conversant with the technology.
Solarisbank will mainly use Blockchain Factory to provide banking services to all willing companies whose business ventures are indirectly or directly associated with blockchain tech and cryptos such as "Blockchain Company Account" for the banking activity of blockchain firms.
"Furthermore, services for global cryptocurrency marketplaces will be made available to make it easier to buy and sell fiat currencies; such as the Solarisbank 'Automated Trust Account,' an automated escrow account for cryptocurrency marketplace," Solarisbank said.
Since the inception in March 2016, Solarisbank has performed excellently and entered a generalship, strategic partnership with Mastercard in October the same year with aim of creating new banking modules. In March 2017, Solarisbank managed to raise US $70 million in a series B financing round from platforms like SBI Group, BBVA, Visa, Lakestar and ABN Amro.
"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," Roland Folz, CEO of Solarisbank said.
Solarisbank has begun its first official business partnership with another enterprise known as VPE Bank and this partner plans to offer cryptos to institutional traders. Furthermore, the firm will set up strong partnerships with crypto platforms that deal with debit and banking cards around their business model.
Peter Grosskopf, CTO of Solarisbank, explained that the fiat world is not about to burn up, the firm is going forward towards a hybrid future that still needs the blockchain world to prove itself, though the disruptive power of these business models is still seen, and that the BaaP institution wants to participate in shaping the future of blockchain and crypto industry.