Bitcoin Group SE, the operator of the German crypto trading website bitcoin.de, has announced the acquisition of 100% of Bankhaus von der Heydt’s shares. The bank has a full banking license and offers services for digital asset custody and tokenization.
According to a Dec. 12 statement, Bitcoin Group SE has tentatively offered to pay bank owner Dietrich von Boetticher 14 million euros and 150,000 shares. The transaction is scheduled to conclude in the third quarter of 2023, subject to clearance by the German Federal Financial Supervisory Authority (BaFin).
In October, Bitcoin Group SE reported that it was in talks with numerous banks, including Bankhaus von der Heydt. Bloomberg stated at the time that privately held Bankhaus von der Heydt sought to develop digital asset trading and custody services in an effort to recoup losses, but was unable to fund the necessary technology on its own. Although the bank was successful in establishing a euro-denominated stablecoin, EURB, in 2020, Know Your Customer requirements prohibited the coin from being exchanged publicly.
This is Bitcoin Group SE’s newest purchase in the German banking industry. In a merger announced in 2018, the company purchased futurum bank, which was finalized in 2020. In 2018, Bitcoin Group SE acquired Tremmel Wertpapierhandelsbank, which was eventually merged into futurum.
Bankhaus von der Heydt was founded in 1754 and is headquartered in Munich. BMX Operations, a business created by BitMEX personnel, attempted to purchase Bankhaus von der Heydt in January, but discussions were called off in March.
According to a Coincub poll, Germany will have the world’s most attractive crypto economy in the third quarter of 2022. In the study, it was followed by Switzerland and Australia, with the United States ranked eighth.
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