Bitpanda selects Solaris KYC solution for onboarding in Germany
Bitpanda has tapped the Berlin-headquartered embedded finance platform Solaris to upgrade its KYC capabilities in Germany.
Bitpanda taps Solaris for KYC service
The Austrian cryptocurrency platform, founded in 2014, is set to leverage Solaris’ advanced digital and adaptable KYC solution, Bankident, to enhance customer identification in the German market.
The Banking-as-a-Service (BaaS) solution allows customers to verify their identity through their bank account while in full compliance with EU anti-money laundering regulations.
Speaking on the partnership, Maik Brodowski, Bitpanda’s commercial lead for Germany, states the strategic move was to “enable our customers to start trading within minutes” as part of a goal to provide “a secure, compliant, seamless, and accessible experience when creating and opening their Bitpanda account, regardless of the market”.
“Solaris’s Bankident KYC solution empowers us to achieve this goal in Germany,” he adds.
The companies are well-acquainted with each other, with Solaris already serving as the issuer and processor for Bitpanda’s debit card programme throughout the EEA.
Both firms have had a busy first half of 2024. In March, Solaris completed a €96 million Series F funding round, while in April, Bitpanda was selected by Landesbank Baden-Württemberg, Germany’s largest federal bank, to offer cryptocurrency custody services to its corporate clients.
