Germany’s Solarisbank Launches Licensed Crypto Brokerage

Solarisbank, the German fintech company providing Sumsung with a range of APIs for digital banking and payments, announced Thursday it will offer fiat-to-crypto service along with instant settlement is its custody solution.

"We started by making custody, and now we're going to offer the brokerage API," Julian Grigo, managing director at Solarisbank Digital Assets, said in an interview. "Small business customers will be able to create a bank account, store their cryptocurrency, and exchange it with bitcoin or other cryptocurrencies using the online brokerage API." 

Large regulated companies like BNY Mellon and Standard Chartered have announced their moves into crypto custody recently. The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.Our B2B customers will be able to get a bank account, store crypto and with the brokerage API, they can swap or exchange their fiat money to bitcoin or other cryptocurrencies.” 

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Custody is the first step into crypto for large regulated firms, which has been happening recently with the likes of BNY Mellon and Standard Chartered making announcements. "We can see this in the U.S. with Square we can see it in the U.K. with Revolut. This has driven a hotbed of innovation with firms like Solarisbank and custody provider Finoa leading the pack.

The Luxembourg-based exchange Bitstamp and Solarisbank have a partnership that offers The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.in-custody” brokerage and instant settlement. 

A similar instant settlement network operates at the U.K.-based BCB Group in tandem with ClearBank. This blockchain-enabled exchange of crypto and fiat completely avoids the vagaries that were witnessed in the recent case of Robinhood and GameStop. The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.The fact that brokers in the crypto economy would copy and replicate this batched delivery of the real assets into the crypto market is rather discouraging,” Gigo said. However, The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.The blockchain never sleeps, and we have instant settlement on our platform.”

This sentence illustrates the fact that there is a clear distinction between the concept and the actual phenomenon. U.K.-based BCB Group (which also works with Bitstamp) offers a similar instant settlement network with banking from ClearBank.

Julian Grigo, managing director at Solarisbank Digital Assets, said: The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.We launched custody, and now we’re preparing the brokerage API.”

The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.Recently, large banks such as BNY Mellon and Standard Chartered made announcements about their efforts in crypto custody. The brokerage API will enable our B2B customers to swap fiat money into bitcoin or other cryptocurrencies by using the bank account they have earned.But the blockchain never sleeps, and so we have instant settlement within our platform.”

 2/25/2021

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