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Digital Currency Revolution Series: Solarisbank’s Subsidiary Intends To Launch Custody Services For Crypto Assets

German-based, SolarisBank, which is a fintech company has formed a subsidiary to offer a custody solution for the crypto-assets.

100% subsidiary of Berlin-based, ‘Solaris Digital Assets GmbH’ will offer their clients with an application programming interface (API)-accessible platform, that provides access to the full range of SolarisBank’s digital white-label banking services.

The managing director for crypto banking activities at SolarisBank, Michael Offermann, says “we started our first steps into the industries of blockchain and cryptocurrencies almost two years ago by launching the Blockchain Factory. Our vision was to provide banking infrastructure for blockchain pioneers in order to bridge the gap between banking and crypto. Fantastic partnerships such as Bitwala, Bison and BSDEX by Börse Stuttgart demonstrate how we brought this vision to life”, now, we’re deepening this engagement by focusing fully on becoming the main infrastructure provider for digital asset pioneers with solaris Digital Assets. It’s the logical next step.”

The managing director of Solaris Digital Assets, Alexis Hamel, says:

“Digital assets will transform the way in which we exchange value. However, we see that there are still massive hurdles to launch compliant and secure digital asset services. The current infrastructure is simply not customer-friendly enough for mass adoption. That’s why we want to empower digital asset pioneers with our one-stop-shop platform, which provides a cutting-edge custody solution alongside licensed digital banking services, such as accounts, cards or KYC services. Our advanced APIs coupled with our regulatory expertise put us in a prime position to pursue our vision of driving digital asset adoption.” 

In the recent past, the LabCFTC has also discussed the impact of derivatives on Crypto-Asset and Custody Models in FinTech Forward 2109 event. 

Bakkt Warehouse custody opened to enable clients to deposit Bitcoin into their accounts and become familiar with the process.

Solaris Digital Assets will further advance SolarisBank’s blockchain activities by supplementing the banking infrastructure with a custody solution for digital assets.

By Niranjan Patil
  • Market Data
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