German crypto asset trading platform Bitcoin Group SE buys bank with full license

Bitcoin Group SE, the operator of the German cryptocurrency trading platform, has announced that it has acquired a 100% stake in Bankhaus von der Heid. The bank has a full banking license and is a provider of digital asset custody and tokenization services.

according to the announcement release On December 12th, Bitcoin Group SE made a tentative offer to pay bank owner Dietrich von Becher €14 million and 150,000 shares. Subject to approval by the German Federal Financial Supervisory Authority (BaFin), the transaction is expected to close in the third quarter of his 2023.

Bitcoin Group SE announced In October, it was revealed that it was in talks with several banks, including Bankhaus von der Heydt. Bloomberg at the time wanted to launch digital asset trading and custody services to help privately-owned Bankhaus von der Heid regain profitability, but was unable to source the necessary technology on its own. reported no.the bank did Successful launch in euros The EURB stablecoin was launched in 2020, but due to Know Your Customer regulations, the coin was never openly traded.

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This is just the latest acquisition by Bitcoin Group SE in the German banking sector. The group acquired Futurum Bank in a merger announced in 2018, completion 2020. In 2018 as well, Bitcoin Group SE Acquires Investment Bank Tremmel Wertpapierhandelsbank (later merged into futurum).

Bankhaus von der Heydt was founded in 1754 and is based in Munich. BMX Operations, founded by BitMEX executives, tried to buy a bankhaus von der heit In January, but the side called Off negotiations in March.

Germany Rated Most Favorable in the World The Crypto Economy in Q3 2022, According to Coincub Research. Switzerland and Australia followed in the survey, with the United States in seventh place.