Bitcoin Group agrees to buy Bankhaus von der Heydt
Bitcoin Group SE has signed an agreement with Dietrich von Boetticher, the owner of Germany-based Bankhaus von der Heydt to buy 100% shares in the company.
The purchase includes a cash payment of 14 million euros as well as 150,000 shares from a capital increase against in-kind contributions from the company. It is worth noting that the cash payment may change depending on the equity development of Bankhaus von der Heydt. In addition, completion of the transaction is still subject to approval by the German Federal Financial Supervisory Authority for the third quarter of 2023.
Bankhaus von der Heydt has a full banking license and offers custody and tokenization of digital assets in Germany. Through this acquisition, Bitcoin Group and Bankhaus von der Heydt will leverage the benefits of blockchain technologies by integrating them with banking and capital market infrastructures. The aim is to provide all banking, securities and cryptocurrency trading services from a single source in a regulated and legally secure manner.
Representatives of the Bitcoin Group cited by eqs-news.com highlighted the company’s opportunity to expand beyond existing activities in securities trading and cryptocurrency storage. They also touched on the increasing regulation in cryptocurrency and how the acquisition of Bankhaus von der Heydt could help Bitcoin Group consolidate and expand its market position.
Bankhaus von der Heydt was founded in 1754 and is based in Munich. According to cointelegraph.com, BMX Operations, a company founded by BitMEX executives, tried to buy Bankhaus von der Heydt in January 2022, but both sides walked away from the negotiating table in March.
In May 2022, Bankhaus von der Heydt announced a collaboration with fintech Coinpanion. The partnership was intended to secure regulatory requirements for the launch of Coinpanion in Germany and to accelerate further expansion into Europe. Bankhaus von der Heydt offers a range of services, including traditional and digital asset banking, securitization and fund services.
More information about Bitcoin Group
Bitcoin Group SE is a holding company that focuses on innovative business models and technologies from the cryptocurrency and blockchain sectors. Bitcoin Group SE owns 100% of the shares in futurum bank AG, which is a trading platform for digital currencies such as Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin, Dogecoin, Tron, Solana and Ripple under Bitcoin.de. It also owns 50% of the shares in Sineus Financial Services GmbH, which is a provider of financial services under the supervision of BaFin.
Bitcoin Group SE has made other acquisitions in the German banking sector. For example, it acquired futurum bank in a merger announced in 2018 and completed in 2020. In 2018, Bitcoin Group also acquired investment bank Tremmel Wertpapierhandelsbank, which was later merged into futurum.
