The bank with headquarters in the city of Berlin, SolarisBank, announced that it already has the necessary permits to offer banking and financial services to companies associated with cryptocurrencies and Blockchain technology within the European Economic Area (EEA).
The institution will handle a special type of service called "Account for Blockchain company", which is a new type of corporate account designed by SolarisBank associated with the "SolarisBank Blockchain Factory" service.
The purpose of this service is to establish links between the technological and regulatory aspects between the commercial banking sector and the Blockchain industry, since financial entities could not originally offer their services to companies in the sector precisely because of the legal commitments that regulate their operations. .
SolarisBank is also joining forces with vPE Bank precisely to enable institutional trade with different cryptocurrencies. The institution assured that they are also designing another series of services, of which at the moment it has not offered more details.
Participants in the industry assure that the institution has plans to issue debit cards and digital banking services to companies and people that operate in the Blockchain sector and digital currencies.
Peter Grosskopf, CTO at SolarisBank, informed that the launch of Blockchain Factory will bring improvements in the area of operability and security, particularly in the case of the cryptocurrency wallets and markets, reducing risks for bank customers.
SolarisBank is described as "a technology company with a banking license". The company started operations at the beginning of March 2016, being one of the first in the Fintech sector with a license that allowed it to perform financial operations in the banking sector.
It should be noted that SolarisBank is the first financial institution to offer this type of accounts to companies related to block technology in the region. Among the similar cases is the Frick bank in Liechtenstein, which offers services to companies within the cryptocurrency industry, as well as the case of the Swiss bank Hypothekarbank Lenzburg.
This new announcement highlights the growing interest of financial institutions to offer their services to companies in the digital currency sector, as opposed to the negative that has been seen in many other nations despite being spaces that promote the growth of Blockchain ecosystem and cryptocurrency. Such is the case of Zug, a city in Switzerland where there are a large number of companies and projects with block technology, which seek banking services in other latitudes due to the impossibility of finding them within the country.