With increasing demand of blockchain related services and cryptocurrencies, it is becoming difficult to find a reliable banking partner for the exchanges. As many banks stopping services to exchanges and providing limited services, but growing demand for cryptocurrencies and blockchain related transactions pressing banks to provide services for mutual benefits.
Seeing the growing demand Berlin-based Solarisbank announced its new service ‘’Blockchain Factory’’ which will provide financial management services to companies related to blockchain related services and dealing with cryptocurrencies related transaction.
Blockchain Factory will provide advanced technology-based services to its clients. Now blockchain related clients of the Solarisbank will have reliable banking partner to do transactions.
“The Blockchain Factory will be used by Solarisbank to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology — One example of these services is the ‘Blockchain Company Account’ for the banking business of blockchain companies,” Solarisbank.
This move by the bank will definitely create a confidence among the cryptocurrency traders and exchanges as they get a legitimate partner with whom they can transact easily without any hindrance.
Bank will open a special account for this service and also make a different segment for this which is highly technology driven so that it can cope with new technologies related to blockchain and cryptocurrencies related transaction.
“Furthermore, services for global cryptocurrency marketplaces will be made available to make it easier to buy and sell fiat currencies; such as the Solarisbank ‘Automated Trust Account’, an automated escrow account for cryptocurrency marketplaces”
There is a high demand of banks having a licensed partner with the cryptocurrency exchanges and this will show a path to other banks and financial institutions to come forward and involve in blockchain related activities or cryptocurrencies related transactions.
The way Solaris bank moving is incredible as the bank started its operation in March 2016 and partnered earlier with Mastercard and other partners to make a new banking module. The bank is focusing on blockchain related transactions too for that bank is becoming advance in fintech technology for this bank has received series B funding from firms like ABN Amro, SBI group, VISA etc..