German Financial Institution Interest Takes Hold
April 26 2018 - 12:59PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
April 26, 2018 -- ADVFN Crypto NewsWire -- Germany adheres to
regulations set by The European Banking Authority (EBA), which “defines virtual
currencies as a digital representation of value that is neither
issued by a central bank or public authority, nor necessarily
attached to a legal tender. VCs are accepted by natural or legal
persons as a means of payment and can be transferred, stored or
traded.”
First Instance of
Institutional Trading
VPE
Bank (WertpapierhandelsBank AG) has partnered
with solarisBank to expand their
asset trading to cryptocurrencies. They have released a proprietary
cryptocurrency trading platform that complies with all necessary
KYC and AML laws. The program is automated, and also provides a
secure wallet for all associated coins to give direct access to the
investors.
The goal of solaris is to
accelerate the fintech industry. The company began in 2016 after
receiving their banking license. They gained an early partnership
with Mastercard to begin innovating payment-processing methods.
Last month the organization raised $70 million in Series B funding
from Arvato Financial Solutions, SBI Group, BBVA, Visa, Lakestar
and ABN AMRO's Digital Impact Fund.
Real Estate/Cryptocurrency
Investment Fund Hybrid
The German financial regulatory
body has granted licensing to Bitreal to integrate
cryptocurrency assets with their real estate holdings. This will be
the first fund of its kind in Germany. The fund is still raising
capital, but hopes to raise more than $40 million, with expected
returns of 15% annually over seven years.
As with solarisBank, Bitreal is
working to bring the finance industry up to speed, and garner
interest from younger generations. They are launching their fund in
conjunction with an ambassador
program.
Many of the cryptocurrency
funds have
closed in only the short time span of popularity.
However, it is likely that more will open in 2018 than did in 2017.
Blockchain technology is now reaching the public and governing
bodies around the world as the potential behind how coins can
simply be traded on exchanges.
By: BGN Editorial Staff
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