Even though the crypto custody law falls under the German banking act, German banks are hesitant to give crypto firms bank accounts.
Berlin-based solarisBank has opened a subsidiary to offer a white-labeled custody product to nonbanks interested in offering crypto products.
With its close partnership with Bitstamp, Solarisbank is touting an instant “in-custody” settlement system.
Germany’s second-largest stock exchange, Boerse Stuttgart, is set to launch crypto trading in H1 2019, with ICO token trading coming later.
Blockchain startup Bitwala is working with Berlin-based fintech company solarisBank to launch Germany's first "blockchain bank account."