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

Bitcoin Group SE, operator of the German crypto trading platform bitcoin.de, introduced that it has acquired 100% of shares in Bankhaus von der Heydt. The bank has a full banking license and is a supplier of digital asset custody and tokenization providers. 

According to an announcement launched Dec. 12, Bitcoin Group SE has preliminarily proposed to pay bank proprietor Dietrich von Boetticher 14 million euros and 150,000 shares. The deal is topic to approval from the German Federal Financial Supervisory Authority (BaFin) and is predicted to shut within the third quarter of 2023.

Bitcoin Group SE introduced in October that it was in negotiations with a number of banks, together with Bankhaus von der Heydt. Bloomberg reported on the time that privately owned Bankhaus von der Heydt had wished to launch digital asset trading and custody providers, in an try and regain profitability, however was unable to finance the know-how wanted by itself. The bank did achieve launching a euro-denominated stablecoin, EURB, in 2020, however Know Your Customer rules prevented the coin from being traded brazenly.

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This is simply the most recent acquisition Bitcoin Group SE has made within the German banking sector. The group acquired futurum bank in a merger that was introduced in 2018 and accomplished in 2020. Also in 2018, Bitcoin Group SE purchased funding bank Tremmel Wertpapierhandelsbank, which was later merged into futurum.

Bankhaus von der Heydt was established in 1754 and is predicated in Munich. BMX Operations, an organization based by BitMex executives tried to purchase Bankhaus von der Heydt in January, however the sides known as off negotiations in March.

Germany was rated essentially the most favorable crypto financial system on this planet within the third quarter of 2022 in a survey by Coincub. It was adopted by Switzerland and Australia in that survey. The United States ranked seventh.