Lens1000
VIP Contributor
BitMEX has announced its intention to buy Bankhaus von der Heydt, one of Germany's oldest banks (BVDH).
The transaction is part of BitMEX Group's "ambitious ambition" of positioning itself as a strong player in Europe by building a one-stop-shop for a variety of regulated crypto products in Germany, Switzerland, and Austria, according to a press release released on Tuesday.
BitMEX Link, an innovative Switzerland-based brokerage service that allows consumers to buy and sell digital assets, was launched in Europe prior to this new step.
BitMEX's CEO believes that "combining Bankhaus von der Heydt's regulated digital assets knowledge with BitMEX's crypto innovation and scale" would help the company build a regulated powerhouse for crypto products in Europe.
The deal is expected to be completed by the middle of 2022. BitMEX, on the other hand, did not provide the acquisition price or any other financial facts about the transaction.
The bank will continue to operate as a distinct corporate entity when the purchase is completed, but BitMEX's CEO and CFO will join its board of directors.
Since settling its $100 million legal lawsuit with US regulators in August, BitMEX has proceeded to extend its operations.
The crypto derivatives exchange revealed earlier this month that it will launch its own cryptocurrency, named BMEX, next month, promising to airdrop a considerable number of tokens into customers' wallets by February 1st.
The transaction is part of BitMEX Group's "ambitious ambition" of positioning itself as a strong player in Europe by building a one-stop-shop for a variety of regulated crypto products in Germany, Switzerland, and Austria, according to a press release released on Tuesday.
BitMEX Link, an innovative Switzerland-based brokerage service that allows consumers to buy and sell digital assets, was launched in Europe prior to this new step.
BitMEX's CEO believes that "combining Bankhaus von der Heydt's regulated digital assets knowledge with BitMEX's crypto innovation and scale" would help the company build a regulated powerhouse for crypto products in Europe.
The deal is expected to be completed by the middle of 2022. BitMEX, on the other hand, did not provide the acquisition price or any other financial facts about the transaction.
The bank will continue to operate as a distinct corporate entity when the purchase is completed, but BitMEX's CEO and CFO will join its board of directors.
Since settling its $100 million legal lawsuit with US regulators in August, BitMEX has proceeded to extend its operations.
The crypto derivatives exchange revealed earlier this month that it will launch its own cryptocurrency, named BMEX, next month, promising to airdrop a considerable number of tokens into customers' wallets by February 1st.
