Germany: crypto storage service from Solaris Digital Assets

The Berlin-based fintech company Solaris Bank today announced the new crypto storage service ‘Solaris Digital Assets’ becoming a licensed banking provider in Germany and a reference point for ambitious pioneers in the crypto world. 

According to the report, Solaris Digital Assets will provide partners with access to the crypto world through the APIs provided by the platform that offers a state-of-the-art custody solution alongside Solaris Bank’s digital banking services.

More specifically, Solaris Bank’s mission would be to intermediate and speed up the approach of users who want to use digital assets. Service partners will be able to link their frontend to the platform’s API (application programming interface) and integrate crypto custody services directly into their websites and apps. 

Not only that, it seems that this service will allow partners to bypass the need to create complex crypto storage solutions and the need for special licenses, thanks to the German bank’s license. 

On the operation of the Solaris Digital Assets, the post reads:

“Our custodial solution stores the private keys on a distributed cluster of hardware security modules, that are connected to a digital bookkeeping system. This ensures that the assets in custody are stored out of reach of malicious agents but still instantly accessible to the end-user”.

An action aimed at promoting the adoption of crypto that the same German fintech company feels is constantly evolving. In this regard here is how the future of tokenomics is described in the post:

“Whether it is currencies, equity, debt or real estate, any asset can be issued as a token on a blockchain protocol”.

A statement that while on one hand confirms the interest of the bank to continue its offer of services in the crypto world, on the other, could be a strategy not to remain outside the industry. 

Recently, in fact, other banks such as SEBA Bank AG have been licensed by FINMA to offer their crypto services. Even the Japanese financial giant SoftBank Group, always at the forefront of the crypto world, launched the new SBC Wallet Card at the beginning of December.

By the way, Solaris Bank is not new to the crypto world. 

Already in 2018, it launched Blockchain Factory, later participating with its digital banking API by the blockchain startup Bitwala, which seems to have been the first crypto-banking service in Germany. 

Not only that, among other collaborations, there is also Bitbond that had used the digital banking infrastructure to conduct the first STO in Germany and, last September, support for the launch of the Börse Stuttgart Digital Exchange, the first regulated trading venue for cryptocurrencies in Germany.