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Visa-backed SolarisBank enters into crypto custody space
German fintech firm SolarisBank, backed by notable investors including Visa and Spanish banking giant BBVA, has ventured into a crowded cryptocurrency custody market. Announcing the news Wednesday, SolarisBank said it has set up a new unit, Solaris Digital Assets, to provide custody services. “Our custodial solution stores the private keys on a distributed cluster of hardware security modules, that are connected to a digital bookkeeping system,” said the bank, adding that it helps keep assets under custody out of reach of hackers but still “instantly” accessible to end-users. SolarisBank’s custody service, ... (full story)