German Bank's : Plan Support For The Upcoming Blockchain Companies.

German Bank's : Plan Support For The Upcoming Blockchain Companies.

2018-07-09 | Eddy Morgan

German Bank's : Plan Support For The Upcoming Blockchain Companies.

In a past few years, as few digital currencies have gained popularity among community, there are a few companies which seem their fair profits in the crypto sector like exchanges and brokerage services in Germany. Banks and other financial management services have even halted their services with cryptocurrency firms and have closed business accounts making it very difficult for cryto related companies to establish a reliable relation with its userbase. Recently, A German financial tech company called ‘Solarisbank’ has revealed a service called the ‘Blockchain Factory’ for the companies which deal with digital currencies and understands the Blockchain Technology well. This will be used by the Solarisbank to offer banking services to companies which are linked directly or indirectly to the digital world or the blockchain technology. Solarisbank explains.

“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 agreement account for cryptocurrency marketplaces.”

Demand For More Licensed Banking Partner Solarisbank recently entered a strategic partnership with MasterCard following last October with plans to build new banking modules. Last March, Solarisbank raised $70 Mln USD in a Series B funding round from several firms like SBI Group, Visa, BBVA, and Lakestar.  As per Roland Folz, the CEO of Solarisbank: “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,” What’s The Future Expected The financial tech company has started its first partnership with another firm called VPE Bank and the two have plans to provide cryptocurrencies to institutional traders. Moreover, the firm will establish partnerships with cryptocurrency companies that deal with banking and debit cards within their business model. In mere future, a lot more is expected from partnerships like this, adding to the acceptability of digital world globally.  

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