The crypto exchange and derivatives platform has set its sights on Bankhaus von der Heydt, which was founded all the way back in 1754.
BitMEX has revealed that it plans to purchase one of Germany's oldest banks — a powerful illustration of how crypto is becoming increasingly influential in the world of finance.
The crypto exchange and derivatives platform has set its sights on Bankhaus von der Heydt, which was founded all the way back in 1754.
In a statement, BitMEX said its deal to snap up the Munich-based financial institution would be subject to regulatory approval, adding:
"BitMEX Group is pursuing the ambitious goal of establishing a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland, and thus becoming a strong player in Europe — in addition to our global ambitions."
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The Details
BXM Operations AG, which has been founded by BitMEX's CEO Alexander Höptner, has signed a purchase agreement with the bank's current owner Dietrich von Boetticher. Assuming BaFin gives its blessing, the transaction should be finalized in the middle of this year.
Details surrounding the price tag of Bankhaus von der Heydt are not known at this time — and BitMEX's statement added that the bank will continue to operate as a standalone business unit, with Höptner joining its supervisory board. Höptner added:
"Through combining the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a regulated crypto products powerhouse in the heart of Europe."
