Solarisbank Boosts Binance’s Chances With German Regulators

Solarisbank Lends A Helping Hand

Banking-as-a-service provided by Solari’s fintech is assisting Binance in winning over regulators in Germany in the country. Solarisbank is contributing to an international effort to convince various regulatory bodies.

According to the Chief Executive Officer of Solarisbank, the financial technology company’s partnership with Binance dates back quite some time. He mentioned the fact that they also make a Know Your Customer service available to Binance in Germany.

Folz mentioned that Solarisbank had partnered with Binance to become fully licensed by BaFin during a meeting of Finance FWD that took place in Hamburg.

Binance is working toward becoming licensed by each of the various regulations that are in place in Europe. Recently, it expanded its operations to France after investing approximately 100 million Euros to get the crypto ecosystem in that country off the ground.

Fintech companies such as Solarisbank can make the process easier for cryptocurrency exchanges such as Binance by providing the latter with a fully licensed list of fintech attributes. Among these characteristics are sock investments, payment processing, and crypto asset protection.

Folz is confident that Solarisbank will be able to close the regulatory void that currently exists between various digital assets and traditional financial institutions. This is a realistic goal for fintech because it holds all of the necessary licenses to operate as a financial institution. Given the support that Binance receives from Solarisbank, he does not see any reason why the exchange should not be licensed in Germany.

He mentioned that Binance had already obtained its license in France, and he believes that the next step is to seek a license in Germany as he believes that this is the most logical next step. He is one hundred percent confident that it will end up being regulated.

Binance Obtains License In France

Binance can now function as a digital asset platform in France, it got its license from French financial regulatory bodies earlier this month. The license means Binance can allow users to carry out crypto-related transactions and also exchange coins for one another.

The move is all part of Binance’s goal to spread its influence across Europe and to place itself in what CZ referred to as the future leader of the crypto industry in Europe. Binance has wasted no time as they already have 50 employees working in the country.

Leave a Reply

Your email address will not be published.

Related Removes Cryptocurrencies from Earn Program

The current turmoil in the cryptocurrency market has forced a number of companies in the space to shift their strategy and come up with new approaches that can help them pull through the downtrend. is also doing the same as it announced that they are making changes to their rewards program called Crypto Earn. […]

A Particular Even May Help Recover Shiba Inu’s Price

The trading price of Shiba Inu (SHIB) experienced a gigantic plunge that was triggered due to the recent bloodbath of cryptocurrency. SHIB Bleeds Badly As the cryptocurrency industry suffered a bloodbath, the trading price of Shiba Inu experienced an even worse situation. SHIB’s trading price reportedly suffered double-digit losses. Despite suffering huge losses, the analysts […]

Price of Bitcoin Suffered another Dip Due to Cypherpunk Holdings

The price of Bitcoin (BTC) ended up experiencing a dip and it came down to $20,200. Bitcoin’s price dipped due to a strong selling that was nothing less than a bloodbath. A great sell-off activity was recorded for Bitcoin that was triggered by multiple institutions. Even the investment firms ended up selling Bitcoin on a […]

Stocks Slip and Yields Ease in Light of Powell’s Comments

On Wednesday, global indexes saw stocks edge lower for the most part, while Treasury yields eased, as investors were taking in the comments of Jerome Powell, the Chairman of the US Federal Reserve. He said that while there was certainly a risk of the economy slowing down too much because of aggressive hikes in interest […]

Asia-Pacific Stocks Gain with Investors Weighing Economic Concerns

On Tuesday, shares in the Asia-Pacific region climbed higher, as investors were weighing the economic concerns. Most indexes record gains The Hang Seng index in Hong Kong had been trading at a loss but rose 0.7% in the last hour of trading. There was also a 0.73% gain in the Hang Seng Tech index. On […]