German bank SolarisBank announced the launch of the Blockchain Factory program to work with European crypto and blockchain companies.
We’re truly excited to launch our own @solarisBank Blockchain Factory today to become the #banking partner for the #cryptocurrency and #blockchain industry. Read more about this strategic step in our official press release:https://t.co/EG2qiqopZG
— solarisBank (@solarisBank) June 28, 2018
Note that most European banks are afraid to deal with cryptocurrency start-ups because of the possible use of digital currencies for money laundering and financing of criminal activities.
However, SolarisBank adheres to a different point of view, and within the framework of the initiative that has been launched, the financial institution will open bank accounts in fiat currency for the needs of the blockchain companies.
Another service from the bank – automated trust accounts – allows crypto-exchanges from around the world to purchase and sell cryptocurrencies.
According to the representatives of the bank, the Blockchain Factory is a technological and regulatory bridge between the banking sector and the world of detachment.
“Fiat currencies will not disappear anywhere. We are going to meet a hybrid future, in which the world of detachment still has to prove its worth. Nevertheless, we see the revolutionary potential of these business models and we want to help shape the future of this industry, ” said SolarisBank Technical Director and Head of Blockchain Factory Peter Grosskopf.
Representatives of the bank declare that they operate within the legal framework and are very demanding on possible partnership relations.
Also in the message of the organization it is said that the next strategic step of SolarisBank will be the provision of services in the field of cryptocurrency.