The German bank Solarisbank is creating a service with a brokerage and trading API on the basis of its custodian storage for cryptocurrencies, as well as an instant settlement system in partnership with the Bitstamp exchange.
Solarisbank, which provides APIs for digital banking and payments to a number of companies, said it will offer fiat-to-cryptocurrency exchange and instant settlement based on its custodial solution. Solarisbank Digital Assets Managing Director Julian Grigo said in an interview:
“We launched storage, and now the next step is the brokerage API. Our B2B clients will be able to open a bank account and store cryptocurrencies, and using the brokerage API they will be able to exchange fiat money for Bitcoin or other cryptocurrencies. ”
According to Grigo, the popularity of cryptocurrency services will grow as more traditional companies are interested in cryptoassets. He said:
“We are paving the way for institutional and retail investors. We see demand for this in the US with Square or in the UK with Revolut. What is happening in the world is also happening in the German market, and we definitely see a demand for such services. ”
Through a close partnership with Luxembourg-based Bitstamp, Solarisbank is launching “custodian” brokerage and instant settlement services. Grigo noted:
“It’s pretty frustrating to see some brokers in the cryptocurrency industry copy and replicate traditional systems like the T + 2 trading mode. But the blockchain never sleeps and that’s why we have instant settlements on our platform. ”
As a reminder, Solarisbank announced the launch of a custodian platform for digital assets last December. The service is available via API and integrates into websites and applications of the firm’s partners.
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