SolarisBank, the German fintech company with a banking license, has publicly announced the launch of its subsidiary Solaris Digital Assets GmbH on Dec. 11. The platform is similar to all the company’s other digital banking products in that it is API-accessible, and integrates into its partner’s websites and apps.
Additionally, solarisBank had already made an important input to the decentralized community back in 2018; by introducing the solarisBank Blockchain Factory; as a banking infrastructure solutions provider. solaris Digital Assets will further progress solarisBank’s blockchain products by providing the banking infrastructure with a custody solution for digital assets.
According to Michael Offermann, Managing Director for crypto banking activities at solarisBank:
“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.”
Fully Licensed Digital Assets Solution
In particular, the digital assets market is a multi-billion dollar industry; and secure custodial services of crypto-assets have become an acute matter of regulatory concern. The market participants who are engaged in crypto safe-keeping are required to be licensed by the concerned regulators. Solaris Digital Assets, as a subsidiary of solarisBank AG is planning to fully meet the regulatory requirements; of the German market and ensure compliant storage of crypto assets. This will ensure that partners do not have to apply for a license by themselves.
In conclusion, the first of the products by Solaris Digital Assets is a custody solution for digital assets. Also, the custody solution has maximal security; and allows instant accessibility to meet the demands of today’s crypto market.