According to CCN, solarisBank, based in Berlin, Germany, has obtained the licenses needed to provide commercial bank accounts to cryptocurrency companies and blockchain companies operating in the European Economic Area. This proves that companies in the field can open “blockchain company accounts” using fiat currency.
Prior to the launch of the new service, the solarisBank blockchain factory was unveiled to provide a regulatory and technical bridge between the blockchain technology sector and the banking industry. Another solarisBank product (usually an automatic money market escrow account) called Automated Trust Account has also been launched. This business will help to buy and sell legal tenders on global cryptocurrency exchanges or markets.
solarisBank has partnered with vPE Bank to allow cryptocurrency to be traded at the institutional level. More services are also in preparation, including the provision of digital banking and debit cards to blockchain companies.