Cryptocurrency News

Germany’s SolarisBank Offers Corporate Banking For Blockchain Businesses Across Europe

Berlin-based bank solarisBank will become the first to offer corporate accounts to blockchain-based businesses from all nations within Europe. These will be the first accounts specially designed for what is a nascent but rapidly expanding industry.

German bank solarisBank announced today (July 10) that it has now received the necessary permits it needed to offer corporate bank accounts especially structured for blockchain-based companies including cryptocurrency exchange and trading platforms. These accounts will be limited to companies that are operating within the EEA (European Economic Area.)

Berlin-based solarisBank will now be in a position to offer blockchain-based companies the chance to have their own unique Blockchain Company Account, tailored for their specific banking business needs.

solarisBank Blockchain Factory

This new special offer is just part of a whole package that has been put together by solarisBank with the crypto-client in mind. Dubbed the ”solarisBank Blockchain Factory”, the idea is to provide a technological and regulatory connection between the traditional banking field and the modern blockchain sector.

Historically, financial institutions such as banks and building societies have been somewhat reluctant to work with any blockchain-related project, no matter how enticing. However, solarisBank believe their “Blockchain Factory” will prove a success, and once these two sectors are indeed connected, such concerns will become a thing of the past.

SolarisBank describes itself as a ”tech firm with a banking license”, and that upon its inception in March of 2016, it was one of the very first FinTech (Financial Technology) companies with a full banking license. It is because of this flexibility that solarisBank is in a position to cater for a market as specific and demanding as that of blockchain technology.

solarisBank & vPE Bank

SolarisBank intends to liaise with another crypto-friendly Berlin-based financial institution in  vPE Bank, with a view to enable the institutional trading of multiple cryptocurrencies. According to solarisBank, such offers are just the “tip of the iceberg”, as they claim to have multiple upcoming and long-term banking services planned, including providing credit and debit cards, as well as offering a digital banking service to blockchain companies and clients.

SolarisBank’s CTO, Peter Grosskopf (pictured) claims the launch of the Blockchain Factory will go a long way to improving the level of convenience and security in all business transactions. This will be particularly relevant in regards to both cryptocurrency wallets and exchanges, and will ”significantly reduce the risk” to end-customers.

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