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Solaris Bank’s “Blockchain Factory” Bridging The Gap Between Fiat and Crypto

The upsurge in cryptocurrency and Blockchain technology made it not regionally limited, but increasingly circulated and used internationally.

If the beginning was difficult, now hardly a day passes by without reporting on the regulation of blockchain technology, bitcoins and other digital currencies. Whether the market fluctuates with soaring highs or nosedives, the truth is somewhere in the middle it is gaining importance in the business world. More and more people are coming forward, willing to possess and/or trade them on international trading platforms.Gradually, traders are also accepting crypto as a means of payment.

Furthermore, Berlin, Germany-based SolarisBank, a licensed banking platform, has also launched the “Solaris Bank Blockchain Factory.” Founded in 2016 it is ready to provide services in its specialized infrastructure platform to the blockchain and cryptocurrency pioneer companies to facilitate European Economic Area (EEA) which can conduct business through a licensed platform.

Peter Grosskopf — CTO and lead of SolarisBank Blockchain Factory says,

“When the solarisBank project was kicked off around three years ago, we had identified one major problem in the market to solve: many fintechs needed a licensed banking partner to launch their products, but could not find a technologically and culturally fitting bank to work with. Out of this need, the idea of SolarisBank was born. Since then, we’ve partnered with more than 60 companies — many of them fintechs, but also tech companies and banks. Nowadays, tech pioneers are using blockchain technology to imagine decentralized versions of certain industries such as finance. Interestingly, many of these pioneers face exactly the same problem fintechs were facing three years ago the need for a licensed partner.”

After establishing the broad banking platform with a full banking license concept at an international level, which allows companies to offer their own financial products and making partners to access the solarisBank modules in the field of e-money, instant credit and digital banking as well as services from third-party providers via API, now with the new strategic move it tapped into the thriving cryptocurrency and blockchain industry through “Blockchain Factory.”

With the intention to cater to the important needs of the blockchain and crypto companies which are still not facilitated by the majority of the Banks, SolarisBank with the launch of its “Blockchain Factory” providing its customers various services like “the Regulatory and Legal Platform” which include tools such as monitoring of transactions and know-your-customer (KYC) procedures, an “automated Trust Account” for the company, an “automated escrow account” which can be opened in fiat currencies giving cryptocurrency marketplaces greater flexability.

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 license we are the natural partner.”

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin5,530.08 0.33 % 1.10 % 12.31 %
Ethereum174.50 0.31 % 0.80 % 16.78 %
XRP0.504 0.06 % 6.88 % 1.34 %
Litecoin41.79 0.05 % 0.88 % 17.79 %
Bitcoin Cash379.90 0.13 % 1.63 % 29.23 %