German Bank Launches Digital Assets Unit to Offer Custody Products
German bank SolarisBank is jumping into the crypto custody space.
Through a subsidiary called Solaris Digital Assets, the Berlin-based bank will offer a white-labeled custody product, the company recently announced. The financial technology startup received a German banking license in 2016 and has since been offering banking-as-a-service for nonbanks to offer financial products.
SolarisBank will apply for a license to custody crypto in 2020, but some of its partners are already testing the custody product, which can be combined with banking identification and account products, according to the company.