Curv Signs New Partnership With Solarisbank Subsidiary Solaris Digital Assets
- Banking , Infrastructure
- 17.11.2020 03:24 pm
Curv, the leader in digital asset security, today announced that Solaris Digital Assets GmbH, a 100% subsidiary of Europe's leading banking-as-a-service platform Solarisbank, has become a Curv client. This new relationship is a strategic inroad for Curv as the company plans to extend its existing presence in Europe following the onboarding of several BaFin-regulated custodians earlier this year.
Solarisbank AG, the tech company with a full German banking license, enables businesses to offer their own financial products in Europe. By leveraging Solarisbank’s modular platform, partners like Samsung, American Express and BP access a wealth of services, including digital bank accounts and payment cards as well as identification and lending services.
Earlier today, Solarisbank additionally announced Bitwala, Germany’s crypto-banking flagship company, as a new client for Solaris Digital Assets. Bitwala is leveraging Solarisbank’s platform to offer its customers digital bank accounts and cards. Curv’s technology underpins Solarisbank’s new partnership and digital asset product delivery to Bitwala.
“Our companies are uniquely aligned to provide a flexible yet secure banking infrastructure that demonstrates the future of global finance,” said Curv Co-Founder and CEO Itay Malinger. “As a protocol-agnostic technology partner, we deliver a multi-party computation (MPC)-based security infrastructure that eliminates all single points of failure and affords institutions the option of a customized deployment to suit their specific needs for hot, warm, or cold wallet environments.”
Since its founding in 2016, Berlin-based Solarisbank has established itself as the banking partner of choice for blockchain and crypto businesses. In 2019, Solarisbank founded its wholly owned Solaris Digital Assets subsidiary, which provides digital asset custody, complementing its existing banking services.
“When we set about our search for a security partner, we found Curv to be the first of its kind. Its technologically advanced cloud-based model and mathematically secure offering aligns with our modular approach,” said Alexis Hamel, Managing Director of Solaris Digital Assets. “As a crypto-custodian fulfilling all license requirements, we offer our partners a cutting-edge custody solution that is also fully compliant with anti-money laundering regulations in Europe. Turning to a segment leader like Curv gives us peace of mind that we can continue to accelerate the adoption of digital assets.”
The new relationship is well-timed given Curv’s aggressive international growth plans and supportive regulatory developments in Germany, APAC and most recently the United States. Earlier this year, the Office of the Comptroller of the Currency (OCC) announced that US national banks could custody digital assets.
In October, Curv announced an engagement with global bank BNP Paribas as well as a fresh injection of capital from Franklin Templeton and Illuminate Financial, bringing the firm’s total amount raised to $30 million. This news followed Curv’s July announcement that the company secured $23 million in Series A funding from digital asset leaders that include Digital Currency Group, Coinbase Ventures and Commerzventures. Curv additionally shared news of its ISO 27001 accreditation, recognizing Curv as a service provider suitable for enterprises with the highest level of security requirements.