Coinbase elevates compliance for German market with Solarisbank

Solarisbank, the specialist European Banking-as-a-Service platform, has confirmed it has been selected by Coinbase, to boost compliance and identify customers in Germany.

It follows Coinbase recently announcing its market entry to provide retail customers and institutional clients with secure, easy, and regulated access to the crypto economy.

Delia König, Managing Director Identity of Solarisbank, commented on the collaboration: “Coinbase is a driving force in the crypto industry and a role model for customer-centric product development. We are incredibly proud to have been selected as trusted partner for customer identification. 

“By integrating our fully digital KYC platform, we enable paper-free, fast, and automated onboarding, meeting Coinbase’s high standards for a frictionless customer experience.” 

Solarisbank’s KYC platform takes an increasingly digital approach to compliance, it does not require any face-to-face interaction with a physical agent, subsequently enabling a faster and unlimited scalable identification process while still being fully compliant with German money laundering regulations. 

Sascha Rangoonwala, Coinbase’s Country Manager for Germany, added on the deal: “The expertise in the area of compliance and the highly efficient KYC platform convinced us to choose Solarisbank as our partner. 

“Through a single API, we were able to integrate different services in a very short time and can now offer a flexible onboarding experience to our customers in Germany.”