Bitwala, solarisBank team up for blockchain bank account

Thursday 11 October 2018 11:49 CET | News

Blockchain startup Bitwala has partnered with fintech company solarisBank, aiming to launch Germany`s blockchain bank account.

The collaboration will enable Bitwala to offer banking services by way of solarisBanks German banking license. The goal is to launch the service in mid-November 2018, Bitwala hoping to cater for those who already hold cryptocurrencies. According to the company, 35,000 users have pre-registered for the upcoming service.

The features that made the partnership possible were the technical platform that allows any company the ability to go in and plug one’s use cases into the solarisBank API, and the regulatory access vis-a-vis its banking license.

Moreover, with the help of Visa-backed solarisBank, Bitwala avoids some of the regulatory pitfalls encountered in the past. In January 2018, Bitwala was one of the several cryptocurrency companies affected when Visa Europe closed the account of its debit card issuer.

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Keywords: Bitwala, Solarisbank, blockchain, startup, Germany, fintech, cryptocurrency
Countries: World