SolarisBank Embraces Cryptocurrency Businesses, But at What Risk? – Irish Tech News

By David Drake

In Europe, most conventional banks have been barring service provision to companies operating in the blockchain and cryptocurrency space. However, one bank is on the path to doing the exact opposite. SolarisBank, a bank situated in Berlin, Germany has now acquired the license to open bank accounts for cryptocurrency businesses.

According to Roland Folz, CEO of SolarisBank, players in the blockchain space are increasingly looking for licensed partners who can bridge the regulatory and technological gap that currently exists in traditional banking. On this note, the bank has launched ‘Blockchain Factory’, a financial management service that will target companies that offer blockchain and cryptocurrency solutions.

In SolarisBank, ICO companies that offer blockchain-based solutions to a wide range of problems will be able to open bank accounts and use them to transact in cryptocurrencies. In the financial sector, blockchain solutions range from the purchase and…