To provide you with the highest stability, security, and flexibility when trading cryptocurrencies at all times, BISON uses a multi-banking strategy for the custody of euro balances. Here you can find out what the cooperation with our partners means for you.
Background - Why multiple banking partners?
With Solaris SE as a long-standing partner and Deutsche Bank as an additional heavyweight in the European banking sector, BISON is optimally positioned for the future. Through this multi-banking strategy, we make our infrastructure even more robust, create greater capacity for our growth, and reduce dependencies on individual institutions.
Account management - What does this mean for you in everyday life?
For you as a BISON user, the operation of the app remains as simple and familiar as ever. However, there are a few small organisational points:
Your personal IBAN: Depending on whether your euro balance is held by Solaris SE or Deutsche Bank, your deposit IBAN will be different. Important: Always use exactly the IBAN currently displayed in your BISON app under “Deposit” for deposits.
No separate contract: You do not need to take any action. You do not open your own separate account with Deutsche Bank, and no direct contractual relationship arises between you and the banking partners. BISON remains your sole contact for all concerns. The contractual relationship exists with EUWAX AG, which opens a trust account at Deutsche Bank for the custody of euro deposits.
Transfers of existing customers: If your balance is transferred in the background from one partner to another (e.g. from Solaris to Deutsche Bank), we will always inform you in good time and transparently via email and in the app.
Protection of funds - Deposit protection of your euro balance
Security is a top priority at BISON. Your euro balance is comprehensively protected regardless of which of our partners currently holds it:
Your deposits in the settlement account are subject to statutory deposit protection.
This means that your euro balance is legally protected up to an amount of €100,000 per customer.