BlocksInform
Leading cryptocurrency trading platform BITMEX has taken steps to acquire the German bank Bankhaus von der Heydt, the company said Tuesday in a statement sent to Bitcoin Magazine. A purchase contract has already been signed but is still waiting for the green light of the German regulators.
"bitmex group is pursuing the ambitious goal of establishing a one-stop-shop for regulated cryptography products in germany, austria, and switzerland, and thus become a strong player in europe - in addition to the group's global ambitions."
The deal was signed by bxm operations ag, a company founded by bitmex CEO alexander hoptner and cfo stephan lutz, and bankhaus von der heyd's current owner, dietrich von boetticher. The details of the transaction have not yet been communicated, as the signatory parties have agreed not to divulge the financial information relating to the transaction, pending approval from the german financial services regulator, bafin. Bitmex said it expects completion by mid-2022.
“germany, like europe's largest economy, combines an innovative approach to digital assets with strong regulatory oversight and rule of law - making it a prime market for bitmex’s expansion in europe,” lutz said in a statement.
Established in 1754, bankhaus von der heydt is a german banking pioneer, having produced one of the first securities issues in the country from 1835. on top of its current lines of business around traditional banks, funds, and securitization, the centennial bank offers a variety of digital asset banking services.
'combining bankhaus von der heydt's expertise in regulated digital assets with crypto innovation and the bitmex scale, i think we can create a controlled power of crypto products in the heart of europe,' said hoptner in a statement.
It is not the first time that Bitmex has entered European markets. The company recently announced BitMEX Link, a Switzerland-based service currently under development that promises 24/7 cryptocurrency brokerage for traders, pro traders, and institutions, joining spot, structured products, and OTC in one place.
