German SolarisBank Provides Custody Services for Digital Assets

Must Read

Eight Things in Crypto You Can’t Afford to Miss This Week

In this roundup, we cover China's market-rattling resistance to Bitcoin, the increasing drumbeat toward crypto regulation, the...

Why the Cloud Industry Needs to Become Greener

According to Energy Post, the Internet will consume 20% of the projected electricity demand...

Your Wallet May Not Be as Secure as You Think; Here’s What To Do

Remember the egregious breach that exposed Ledger’s entire trove of customer data to the public?...
- Advertisement -
Earn Free Bitcoin

Berlin-based fintech company solarisBank has established a subsidiary to provide a custody solution for digital assets.

Per a Dec. 11 announcement, solarisBank’s newly established subsidiary, solaris Digital Assets GmbH, will provide clients with an application programming interface (API)-accessible platform, which gives access to the full range of solarisBank’s digital white-label banking services.

No need to apply for a license

The announcement further reads that solarisbank Digital Assets will operate in compliance with the regulatory requirements of the German market, as well as ensure storage of digital assets that is compliant. This, according to the company, will release clients from the need to apply for a license themselves. Solaris Digital Assets plans to apply for a license for the crypto custody business in 2020.

Commenting on the subsidiary launch, Alexis Hamel, managing director of solaris Digital Assets, said:

“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.”

Custody services gain traction

Earlier in December, DXM, a financial services subsidiary of South Korean fintech firm Dunamu, revealed plans to launch an institutional crypto asset custody service, in collaboration with crypto cybersecurity firm Ledger. DXM plans to launch the custodian under the name Upbit Safe and that Ledger Vault, Ledger’s custody arm, will support the initiative with its technology.

Also, Fidelity Digital Asset Services, LLC (FDAS) procured a charter from the New York State Department of Financial Services to operate a virtual currency custody and execution platform, where both institutional investors and individuals can store, buy, sell and transfer Bitcoin (BTC).

- Advertisement -
- Advertisement -

Latest News

Sunday Market Analysis from Trendtracers

BTCUSDT. First impression is bearish, there seems to be yearly support at around 28k, We’re expecting more...
- Advertisement -Earn Free Bitcoin

Earn Passive Income with Nhash Cloud Mining Services

Cloud mining services are an easy way to earn passive income online. Although...

Afri-X and DigiShares Bring Tokenization to Africa

DigiShares is proud to announce its partnership withAfri-x.com to deliver the power of tokenization to Africa. DigiShares has licensed its tokenization platform to...

Racing For Heroes selects Gen2 Technologies as a Key Technology Partner

SPARKS, Nev., April 7, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is proud to announce that it has been...

Ken The Crypto tells You How to Get the Most out of the 2021 Bull Run

The year 2021 is what people call the "Bitcoin Year", and the reason is self-explanatory. This recent bull-run has brought...