Berlin, 02.07.2019: BlockState, the security tokenisation provider for SMEs and real estate, announced today their partnership with solarisBank, the technology platform with a banking license. As a licensed banking partner, solarisBank offers a solution for BlockState to collect FIAT money from investors using conventional banking infrastructures.
Security tokenisation is widely seen as a paradigm shift in the way that SMEs and issuers of other non-bankable assets can access capital markets. Leading institutions like KPMG and the World Economic Forum expect a 10% (or eight trillion US Dollars) of global GDP to be tokenised by 2025. Security tokens are digital representations of existing, regulated financial products. The streamlined method of digital issuance replaces a series of intermediaries and processes such as settlement clearing by blockchain technology, enabling a direct connection between issuers and investors without the complex and costly traditional financial market infrastructure. In combination with stable coins such as LIBRA, which Facebook aims to use in future, they will enable new completely digital and decentralized financial markets.
The partnership represents a significant step towards the integration of the emerging blockchain-powered financial applications with the traditional financial market ecosystem. BlockState is partnering with solarisBank to maximize the accessibility to token-based financial products by enabling the purchase of security tokens using regular bank transfers. solarisBank fulfills all necessary technical and regulatory requirements to close this gap in the path to a full maturity of a digital asset ecosystem.
“Financial products will become fully digital in the very near future. We are at the forefront of driving this change, providing digitized, regulated financial products that are more efficient than their traditional peers”, says Paul Claudius, Founder and CEO at BlockState. “Interoperability and integration resulting in a seamless UX and ubiquitous access are essential for mass adoption. With a truly innovative partner such as solarisBank we are connecting the powerful infrastructure of a fully regulated banking-as-a-service platform to the decentralized financial market.”
“It is great to see modern banking players like solarisBank working together with financial blockchain innovators like BlockState to close the accessibility gap to blockchain enabled securities.” Michael Offermann, Managing Director of solarisBank’s Blockchain Factory says. “The integration of traditional market infrastructure with decentralized solutions is an important stepping stone towards a digitized, more efficient and more accessible financial market.”
The solution is currently being piloted in the first issuance on the BlockState platform: BlockState’s capital increase in which shares of a Swiss stock corporation are tokenized. The offering will enable both institutional and retail investors from around the globe to participate in the fundraising round, showcasing the functionality of the platform and demonstrating the value of digital asset issuances. Further issuances for external clients are planned for the third and fourth quarter of 2019 and will be announced soon.
More information about the BlockState STO at https://blockstate.com/sto/blockstate/
BlockState was founded in 2018 in Zug, Switzerland, and has offices in Berlin, Germany. It is a fully compliant security token platform for SME equity or debt and real estate. BlockState provides an end-to-end Security Tokenisation platform to digitise the ownership to privately owned assets and issue them to a global investor audience, making use of Blockchain technology for efficiency gains and financial product innovation. BlockState is supported by international investors and advisors from the financial market, technology and legal space. In 2019, BlockState will tokenise and issue its own company equity to investors globally.
solarisBank, the tech platform with a banking license, enables companies to offer their own financial products with its banking-as-a-service offering. Through APIs, partners gain access to solarisBank’s platform services including payments and e-money, lending, digital banking as well as services provided by integrated third party providers. Through this, solarisBank creates a highly developed technological banking ecosystem for fintechs, established digital companies, as well as banks and corporates.
The Berlin-based company was founded back in 2016 and is led by CEO Dr. Roland Folz, board members Jörg Diewald and Andreas Bittner, as well as CPO Dr. Jörg Howein. To date, solarisBank has raised more than EUR 95 million from renowned investors, including BBVA, Visa, Lakestar, ABN AMRO’s Digital Impact Fund, Arvato Financial Solutions, SBI Group, Finleap and yabeo.