Bitcoin Group SE, the company behind German trading house bitcoin.de, has acquired 100 percent of the shares of a German bank, a report shows. agreement published on December 12. Bankhaus von der Heydt is a 268 year old bank with a full banking license and is also allowed to manage crypto and tokenization.
Bitcoin bank for 14 million euros
If we are to believe the December 12 press release, Bitcoin Group SE will pay a total of 14 million euros and 150,000 shares to Dietrich von Boetticher for the bank. Now only the regulator of the German financial market has to give permission for the deal. It is expected to be fully completed in the third quarter of 2023.
Bitcoin Group SE already announced in October that it was negotiating with a number of banks, including Bankhaus von der Heydt. The German bank, for its part, was reportedly in the process of setting up a trading platform for digital assets, but was unable to finance the necessary technology from its own resources.
In that respect, the acquisition of Bankhaus von der Heydt by the Bitcoin Group SE is a way to get this done. The bank did succeed in launching its own stablecoin in 2020. It concerns the so-called EURB.
Not the first acquisition
Incidentally, the acquisition of Bankhaus von der Heydt by the Bitcoin Group SE is not the first acquisition in the German banking sector. Previously, the group announced the acquisition of Futurum bank in 2018, which was subsequently completed in 2020. Furthermore, in 2018 it also bought the investment bank Tremmel Wertpapierhandelsbank, which was merged with Futurum.
Bankhaus von der Heydt is a very old German bank that was established in Munich in 1754. Earlier, BMX, a company set up by BitMEX directors, also tried to take over Bankhaus von der Heydt. That potential acquisition took place in January 2022, but negotiations broke down in March this year.