Coinbase Selects Solarisbank’s KYC Platform to Strengthen Positions in Germany

The California-based digital asset exchange operator Coinbase has selected Solarisbank - Europe's leading Banking-as-a-Service platform’s know-your-customer (KYC) solutions to compliantly identify customers in Germany.

The crypto exchange is the first company to secure a crypto custody license from the German financial regulator BaFIN. Besides, it announced recently the further expansion into Germany to provide retail customers and institutional clients with secure, easy, and regulated access to the crypto economy.

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Solarisbank provides a multitude of digital identification service components via RESTful APIs. Its KYC platform is fully compliant with anti-money laundering laws and can be adapted to the specific needs of a company.

In addition to standard methods such as video identification, Coinbase also leverages the innovative Bankident solution developed by Solarisbank, which does not require any face-to-face interaction with a physical agent, and enables a faster identification process while still being fully compliant with German anti-money laundering regulations. It’s fully digital and available around the clock, allowing customers to identify themselves wherever they are.

“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,” Sascha Rangoonwala, Coinbase’s Country Manager for Germany stated.