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Cryptocurrency trading platform BitMEX Group has inked a purchase agreement to acquire German private bank Bankhaus von der Heydt.
Source: The Block Crypto
BitMEX made the agreement to acquire the 268-year-old bank with its current owner Dietrich von Boetticher, subject to the approval of German financial regulator BaFin. It is expected to be completed in the middle of 2022.
BitMEX did not disclose the terms of the transaction but said that Bankhaus will continue to operate as a standalone business unit once approved. The group has been looking to expand its European presence, with the launch of a Switzerland-based crypto brokerage service earlier this year.
Under the agreement, BitMEX Chief Executive Officer Alexander Höptner and Chief Financial Officer Stephan Lutz will join the supervisory board of Bankhaus upon closing the deal.
Höptner said BitMEX targets to establish a “regulated crypto products powerhouse in the heart of Europe” should the transaction push through.
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